News

Carreker Enters AML Space with Flexible, Modular Addition to CORE Risk Management Suite

Monday 8 December 2003 17:13 CET | News

Carreker Corporation has announced the development of CORE AML for release in incremental components during 2004.

The anti-money laundering software is designed to help banks protect their corporate reputations and their customers from the growing risk of financial criminality and to comply with a growing number of laws and regulations. CORE AML is an addition to the companys product suite CORE (Carreker Online Risk Expert), a comprehensive and flexible risk management platform for financial institutions. Analysts foresee a significant spend by financial institutions on anti-money laundering solutions. For European banks, for example, Datamonitor predicts a total spend of $4.8 billion between 2002 and 2006 on anti-money laundering compliance and risk management projects. The pressure on banks to prevent money laundering has been driven by a number of laws and regulations, including the USA Patriot Act and Basel II. CORE AML is designed to filter transactions and accounts against industry and local blacklists and apply advanced detection techniques that surface suspicious transactions and accounts in both batch and real time. The software will combine transaction data from all types of payments and across multiple payment channels and relationships with available sociological, demographic, product, and service information to produce behavioral and risk profiles for each account. Watch lists will be easily updateable with alerts issued, false positives minimized, and existing databases leveraged. Carrekers risk management solutions are marketed in two suites (CORE and FraudLink) and are used by about 100 of the leading banks in the U.S., Australia, Canada, Ireland, South Africa, and the U.K.


Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce


Related

Banamex, Stratus Technologies launch mobile POS app

Published 12 Jul 2013 10:15 CET | World
Financial institution Banco Nacional de México, Banamex, has launched iAcepta Móvil Banamex, an application developed by technology company Stratus Technologies Mexico / Central America dubbed S-Pay mobile POS, which is compatible with handheld devices to make mobile payments....

First Data and Scotiabank Inverlat Launch New Mexican Merchant Services Alliance

Published 05 Dec 2003 17:14 CET | World
First Data and Scotiabank Inverlat have launched ScotiaPOS, a new merchant services alliance that will enhance domestic and international merchant processing services in Mexico....