THE PULSE VOL 01 | Page 24

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Amlock™ Helps One of India’s Largest Banks Meet AML Regulations across 25 Countries

OVERVIEW

A Fortune 500 company, the bank has one

of the largest networks with over 20,000 branches and 196 offices across 36 countries. With a large market share in assets, loans and deposits, it is one of the leading banks in India.

Company Snapshot

Company: One of India’s Largest Banks

Sector: Banking and other Financial Services

Regional presence: Offices across 36 Countries

Challenges FACED

As the bank spread its presence globally, there was a need for an integrated, data-driven and scalable technology solution to cope with the diverse and complex regulatory environments across different countries.

Consistent adherence to diverse regulatory requirements of various countries was a major challenge. Non-compliance would mean exposure to penalties, fines, and a potential loss of reputation. Maintaining confidentiality and integrity of data from different sources for seamless data management and risk assessment, was crucial for a successful AML program. To meet these challenges, the bank needed a centralized database to monitor transactions and remittances as well as handle support calls centrally. They needed a single, cost-effective AML solution to support the regulatory requirements of 25 countries.

CASE STUDIES