Mantas Anti Money Laundering solution to Korean Bank

Bangalore, May 21 (UNI) Mantas Inc., a business of i-flex solutions providing regulatory compliance, loss prevention and revenue generation solutions, today announced that Korea Exchange Bank, has purchased the Mantas Anti-Money Laundering Solution.

Mantas was selected for its reputation and expertise in designing solutions to meet global regulatory demands, according to a company release here today.

Korea Exchange Bank saw Mantas as a comprehensive AML solution designed to meet upcoming Korean AML regulations as well as enable the bank to expand its international business in Asia, Europe the US the release said adding in the super-charged competition for market share, institutions simply cannot risk the damage to reputation and client trust that result from financial abuse and illicit activity.

In addition to Korea Exchange Bank, Mantas has seen an increase in new AML customers, including First Bank of Nigeria, that country's largest bank, Habib Bank Ltd, the largest bank in Pakistan, and others, the release added.

Mantas Anti-Money Laundering mitigates risk with comprehensive, enterprise-wide surveillance of customer, account and transaction information to alert supervisors to suspicious behaviours. The system's unique ability to analyze every transaction and generate risk-based alerts of suspected money laundering activities allows Anti Money Laundering and compliance officers to distinguish fraudulent from legitimate transactions, the release added.

UNI