Fortent Launches New AML Solution
Fortent has announced the release of a new version of the company’s anti-money laundering technology. This latest offering expands the global reach of Fortent’s risk and compliance solutions by adding Japanese, Spanish and Arabic language capabilities to the Fortent platform. The company claims that the system streamlines the financial crime investigation process for banks, securities firms, and insurance companies, as well as providing deeper profiling of correspondent banking accounts. Responding to heightened regulatory interest in correspondent banking, Fortent has enhanced the monitoring of correspondent banking accounts around the world. With US and international policy-makers – such as the Financial Action Task Force (FATF) and the European Union – imposing tougher ‘Know Your Customer’ standards for banks, the latest version of the solution automatically drills down to collect and organise more granular information about individual parties to transactions, making the process transparent.