Bangalore-based information technology company 3i Infotech has released its Financial Crime Detection and Management Solution, AMLOCK at the ACAMS 7th Annual AML Risk Management Conference in New York.

Krish Narayanaswami, Global Business Head – Banking, 3i Infotech said, “We are proud to feature AMLOCK, our globally acclaimed & end-to-end financial crime detection and management solution at the ACAMS conference marking our foray into the US market”.

According to the supplier, AMLOCK allows the banks and FIs to detect and manage money laundering activities. It has been designed to stop the flow of illicit funds, manage compliance requirements, assess customer risk efficiently. Some of the key features include KYC / Sanctions Screening, Customer Risk Rating, Transaction Monitoring, False Positive Manager, Case Management and Reporting & Analytics.

Ravikanth Sama, Global Head – AML Practice, 3i Infotech said “AMLOCK leverages the latest technologies, smart graphical analytics and uses AI/ML models. It enables banks, insurance companies, security firms, non-banking financial institutions (NBFIs) and mobile wallet users to easily identify & monitor suspicious activity at both the transaction & customer levels.”

The AMLOCK suite provides financial crime management for larger enterprises through AMLOCK FCDMS, AML services for small and medium-sized institutions through AMLOCK Lite and enhanced Analytics/AI for uncovering fraudulent patterns through AMLOCK Analytics.

Established in 1993, 3i Infotech provides comprehensive IP based software solutions & IT services, transforming businesses across Banking, Financial Services, Insurance and Enterprises.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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