Citizens Financial Group, a US bank owned by the Royal Bank of Scotland, has bought NetEconomy to monitor, detect and manage risk related to money laundering and fraudulent activities. NetEconomy’s ERASE solution will be installed in Citizens’ Financial Intelligence Unit’s AML Investigations Unit.
“Citizens is pleased about its selection of NetEconomy,” says Glenna Hicks, Senior Vice President and Director of Citizens’ Financial Intelligence Unit. “We evaluated a number of solutions and believe that NetEconomy best meets our business needs and provides a robust platform which will scale to support future growth.”
“NetEconomy is delighted to have been selected by Citizens Financial Group,” adds Ivan Zasarsky, Vice President of Sales, Americas, of NetEconomy. “With the choice of ERASE, Citizens is clearly taking a pro-active stance to eliminate risk exposure and address compliance requirements with BSA and USA PATRIOT Act regulations.”