3i Infotech has launched a hosted model for AMLOCK, the anti-money laundering and fraud detection application.
Designed to ease the growing regulatory complexities that have led to escalating costs in procuring financial software, the application provides financial institutions with a means to detect and investigate suspicious transactions, whilst ensuring full regulatory compliance ahead of the EU’s Third Money Laundering Directive deadline.
The hosted format enables businesses to better manage IT budgets and eliminates any previous concerns associated with technology upgrades, core processor selection and the efficient management of their operational assets.
The application has the ability to provide businesses with a step-by-step management guide once an alert has been generated; enabling users to investigate, track and comprehensively report any abnormalities.
“The launch of this hosted, pay per use service marks another milestone in the evolution of our business. Ensuring that customers stay bang up to date with the latest technological developments, the offering provides an alternative approach for businesses that have started to take a closer look at the true cost of compliance,” says Steve Young, director asset management and capital markets, 3i Infotech-Western Europe.