Cicada’s Profiler Solutions division is installing its Profiler software at Bank Mandiri Limited. The installation will serve as part of an internal project underway at the Bank to evaluate the advantages of automating its client on-boarding, periodic compliance reviews and AML risk rating process.
Profiler is being implemented at Bank Mandiri Limited as a proof-of-concept, during which the Bank will provide feedback on the software’s benefits toward automating its AML compliance processes. The project will be supported by Cicada Profiler staff in London and overseen by the Bank’s Deputy General Manager, Brendan Battle.
“We are expecting many benefits from automating our client on-boarding process,” says Battle. “As part of our internal project, Profiler will help us automate the many activities and processes involved, including the generation of AML risk ratings, scheduling of reviews and the centralization of client data and supporting documentation into a single master repository. We anticipate this will assist our reporting and audit requirements and increase the efficiency of our operations and compliance activities.”
“We are pleased that Bank Mandiri Limited selected Profiler as part of their evaluation process,” adds Wendy Kassel, Vice President of Product Management. “Profiler was designed specifically to help banks automate their compliance policies and provide efficiencies to the KYC on-boarding and review process.”