Transactional Risk Specialist To Help One of Turkey’s Largest Banks Comply with Global AML Regulation
Actimize, the leading provider of transactional risk management software for the financial services industry and a NICE Systems (NASDAQ:NICE) company, today announced that Akbank selected the Actimize Anti-Money Laundering (AML) solution to help meet local and international regulatory standards. Actimize has been selected to deliver this project together with Kocsistem, Actimize’s leading partner in Turkey.
Like all European banks or those participating in the international financial network, Akbank faced regulatory challenges regarding AML. “We evaluated several potential solutions to help us more easily meet local and international AML standards around suspicious activity monitoring and watch list screening for all our subsidiaries world wide,” says Selim Önal, compliance officer at Akbank. Mr. Evrim Benker, Group Manager, Head of Compliance and Internal Audit added: “After a thorough review process, we decided that Actimize was the best match to help Akbank, due to its unique multi purpose patented platform, its comprehensive AML package concept and its leadership in fraud detection and prevention.”
The Actimize Anti-Money Laundering suite provides complete end-to-end compliance capabilities. The solution consists of three areas—Suspicious Activity or Transaction Monitoring, Customer Due Diligence, and Watch List Screening—that are available individually or as an integrated whole. Built on a common platform, each module offers rapid deployment and a flexible environment to efficiently address AML compliance requirements. The underlying platform can also be used to deploy fraud prevention and brokerage compliance solutions, which offers organizations a uniquely attractive total cost of ownership for previously disparate applications.
Akbank offers a wide range of retail, commercial, corporate, private banking and international trade finance services. In addition non-banking financial, capital market and investment services are provided by the Bank’s subsidiaries including Ak Leasing, Ak Securities, Ak Investment Fund, Ak Asset Management. Akbank is headquartered in Turkey and has 682 branches and 12,333 employees.
“Like Actimize, Akbank is a leader in its market,” says Amir Orad, CMO of Actimize. “We are delighted to partner with them to providing our best-of-breed AML solution, as well as a platform that will grow to meet their fraud prevention and compliance needs.”
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