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InfrasoftTech Assists Banks in Mexico to Comply With CNBV Guidelines for AML

InfrasoftTech today announced that CiBanco, a leading bank in Mexico, has gone live on OMNIEnterprise Anti Money Laundering Solution for their compliance and customer risk management needs.

With this win InfrasoftTech now has added one more marquee customer in Mexico, each of them from a different segment, further reinforcing the solution's capability in terms of support for diverse financial verticals. After a comprehensive evaluation process, CiBanco selected InfrasoftTech's solution based on its compliance with CNBV guidelines and support for multiple businesses of the bank - banking, securities, forex and vehicle loans.

Since its launch in 2003, InfrasoftTech's OMNIEnterprise AML solution has gained tremendous success in Latin America, UK, Middle East, Africa, South East Asia and India. It has featured regularly in analyst & research reports.

In the Celent Report of 2012 - "Evaluating the Enterprise-Wide Compliance Vendors Solutions for Anti-Money Laundering and Antifraud", InfrasoftTech ranks among the leading vendors under the two dimensions of Advanced Technology and Breadth of Functionality. It has been cited that InfrasoftTech's solution assists the users in easy adoption and usage through its configuration options, risk parameter definitions and usability.

On the eve of the go-live, Mr. Hanuman Tripathi, Group Managing Director, InfrasoftTech, said, "We are very proud to be have made a mark in the international market against some entrenched competition. We are committed to providing technology that not only helps to undertake AML Compliance as per regulatory directives, but also helps to proactively reduce bank's overall risk on financial crimes being committed using traditional as well as electronic banking channels. We are happy to state that with increased focus on cost control, we are able to offer our clients, one of the best ROI for managing potential risk, losses, penalties and reputational damage in Anti-money laundering and Anti-Fraud space.

InfrasoftTech, a specialist IT solutions & service provider in BFSI space, launched OMNIEnterprise Anti Money Laundering Solution in 2003. It has clocked year-on-year double digit growth and now has 100+ sites on this solution. In 2011, InfrasoftTech launched OMNIEnterprise Compliance and Financial Crime Surveillance Solution that brought anti-money laundering and anti-fraud capabilities on a common technology platform.

It now offers a great option to financial institutions to leverage their investments in a solution that not only addresses compliance but also protects them from loss of business and reputational risk.

The solution provides value-added functionality through advanced features like customer due diligence, enhanced KYC, dynamic rules & scenario setup, multi-level, multi-stage case management workflow, customer & transaction profiling, online as well as batch-mode scan, integration capability with diverse back-office & transaction processing systems. It provides FIU reporting and AML & Fraud coverage across finance verticals - banks, insurance companies, mutual funds, brokerages, money exchangers.

The solution enables AML compliance, advance risk based customer identification and provides number of tools for detection of fraud in financial organizations, ably supporting the Central banks' directives on financial crime prevention and fulfilling all regulatory compliance requirements.