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Mansfield Building Society boosts compliance strategy with iFinancial’s AMLtrac

By Megha Bhattacharya

December 17, 2020

  • Mansfield Building Society
  • UK
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iFinancial
Matthew Day, Director, iFinancial

iFinancial announced that UK-based Mansfield Building Society has selected its Anti Money Laundering Software – AMLtrac with an aim to boost compliance strategy and procedures. iFinancial’s AMLtrac is a counter-terrorist financing solution that identifies and tracks suspicious or illegal activities or proceeds of the crime.

iFinancial’s Director Matthew Day said, “We pride ourselves on our in-depth knowledge of financial services, technology and applications software and are delighted to partner with Mansfield Building Society on this exciting project. Not only do we offer first-class software solutions but our highly skilled and dedicated team, with some of the best minds in the industry, will be working with Mansfield to facilitate a smooth rollout of the software.”

According to the company, the AMLtrac installation includes a selection of modules that match the requirements of the customer’s business. The solution can also integrate into the company’s Core Banking and Digital Banking products or work with an existing legacy system.

Based in London, International Financial Systems or iFinancial creates software for banks and financial institutions. It’s offering includes Core Banking, Internet and Mobile Banking, Compliance and Anti Money Laundering software, and Cash Management Solutions. The company has offices in Vietnam and Gibraltar.

This year, IBS Intelligence reported that iFinancial’s peer-to-business (P2B) solution, iPayu has gone live in St.Helena, a tropical island in the South Atlantic Ocean. The system was developed in collaboration with the Bank of St. Helena and the island’s government in a bid to introduce electronic payments on the island.

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