ACE Software Solutions, provider of intelligent payment, AML and STP solutions for the financial sector, has entered a strategic partnership with BankServ that will see BankServ resell Ace’s proven products for anti money laundering (AML) and terrorist financing.
AML is still a relatively new concept and there is increasing pressure on the banking, financial, and investment communities across the world to ensure that they have effective systems to detect an prevent terrorist financing activity.
The AML toolkit provides an automated solution to facilitate AML compliance requirements using intelligent natural language processing to quickly and accurately scan financial messages irrespective of formats.
Mary Ellen Putnam, Vice President of International Business, BankServ adds: “This combination of two best of breed products will advance the industry’s fight against AML and terrorist financing whilst providing the advanced messaging functionality for which we have become known.”