The Paypers

The AML solution uses SAS’ Anti-Money Laundering to establish a global standard of compliance, crossing 14 economies that include eight other Southeast Asian markets, as well as China, Hong Kong, Japan, Taiwan, the United Kingdom, and the United States.

BBL and SAS collaborated in developing and deploying a single AML solution to replace the bank's legacy systems with more advanced analytics tools. The project involved auditing each location's regulatory needs and banking activities and incorporating global best practices and guidelines. As the press release says, the audit yielded the most comprehensive and relevant list of business requirements and helped define minimum AML standards for BBL in its entirety.

The initiative also demanded other bank-wide changes, including new resources and data sources, as well as new ways of working among compliance, business, and IT. The bank instituted a data team to ensure the model functions effectively. Further, a skilled technical team operates data ETL (extract, transport, and load) tools to give enough focus for data-mapping exercises.

Bangkok Bank Limited and SAS launch new AML solution