Risk and compliance specialist Fortent announced today that Mizuho Financial Group will implement Fortent’s anti-money laundering (AML) application throughout the bank’s domestic Japanese operations.
Mizuho Financial Group is one of the world’s largest banks, with assets of close to $1.3 trillion.
Mizuho will deploy Fortent AML Version 6 the latest version of Fortent’s AML system that features enhanced correspondent banking capabilities and highly efficient alert investigation tools. Fortent has fully localised AML Version 6 for the Japanese market.
“We are totally committed to having the most advanced anti-money laundering solution available on the market today. After reviewing several proposals from solution providers, we chose Fortent based on the powerful capabilities of their software, their proven track record with clients, and, most important, their commitment to and understanding of the Japanese market,” says Hiroshi Motoyama, managing director and member of the board of directors, Mizuho.
“Fortent’s work with the banking community over the past decade has given us a deep understanding of regulatory issues all over the globe, allowing us to become real partners with banks in managing risk.Our systems are backed up by a management team that truly grasps clients’ needs for efficiency and effectiveness. The American Bankers Association has recognised Fortent AML as ‘best in class,’ and we bring that highest level of expertise to all our work with clients, wherever they operate,” adds Robert Binney, vice chairman, Fortent.