The Bank of Tokyo-Mitsubishi UFJ said the new system, which it has already placed an order for, will be an important component in its risk-based approach to managing the threat of money laundering,
“Actimize proved that its anti money laundering solution can accurately identify transactions that Japan’s Financial Services Authority deem suspicious and can integrate quickly with our environment,” said Toshiyasu Terao, chief manager of the bank’s global compliance division.
“Even in situations where limited information is available, Actimize’s scenarios and sophisticated analytics can convert a small amount of data into a confident decision.”
The Actimize solution provides web-based case management, a collaborative investigative environment, customisable workflows, alert management, reporting and complete audit trails.
According to Neil Katkov, from consultancy firm Celent, Actimize’s system is very appealing to financial institutions that want to fight money laundering.
“I expect the Asia Pacific market to continue increasing investment in anti money laundering and fraud detection solutions, and that firms such as Actimize will benefit from this adoption trend.”