Mitigating risk and and ensuring compliance requirements are met for global mandates
Metavante, a provider of banking and payments technologies, has announced that Japan-based Mizuho Corporate Bank is automating its compliance efforts throughout its international offices and subsidiaries in 19 countries worldwide with a suite of anti-money laundering products from Metavante’s risk and compliance services division.
Mizuho is deploying Metavante’s Prime Compliance Suite in more than 27 of its offices. The Prime Compliance Suite is an anti-money laundering (AML) compliance system to help organisations mitigate risk and ensure compliance requirements are met for global mandates such as the Financial Action Task Force recommendations, European 3rd Directive, Bank Secrecy Act, USA Patriot Act, and Office of Foreign Asset Control. The suite is claimed to enable detection of suspicious activity and automates filing of the necessary regulatory reports with the appropriate governmental agencies.
Angelo Aldana, general manager and head of Americas legal and compliance at Mizuho Corporate Bank, said: Metavante’s comprehensive suite of AML compliance components and extensive deployment of software solutions in both the US and international market will help ensure Mizuho’s exposure is effectively managed and our interests are well protected.