ING Rolls-out NetEconomy's Financial Crime Solution To Banking Institutions In Belgium, India And Mexico

ING Group has gone live with NetEconomy's solution in Belgium, India, and Mexico with NetEconomy's solution for detecting money laundering and fraud, and managing compliance initiatives in these countries. After the first successful pilot implementations of ERASE at ING Romania,

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ING Group has gone live with NetEconomy’s solution in Belgium, India, and Mexico with NetEconomy’s solution for detecting money laundering and fraud, and managing compliance initiatives in these countries.

After the first successful pilot implementations of ERASE at ING Romania, Curaao (Dutch Antilles) and Luxembourg, ING signed an exclusive global contract with NetEconomy in June of 2004. Since that time, NetEconomy has implemented systems in The Netherlands, Poland, New York, and now India, Mexico, and Belgium, with planned installations in Germany, Brazil, and Asia.

“As the threat of financial crime continues to advance on a global basis, we are charged to take a proactive stance to protect our customers and our firm against risk,” said Virginie de Fresquet, CIO Transactional Services of ING. “The detection accuracy of ERASE reduces false positives for fewer alerts to investigate; quick implementations result in a significant cost savings; and the system flexibility and scalability gives us the assurance that as we expand or change, ERASE can adapt as needed.”

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