Wednesday, January 14, 2009

Banco Santander Deploys New AML Solution

BankTech reports that Banco Santander, the Spanish bank that recently acquired Sovereign Bancorp, has decided to implement Anti-Money Laundering software from Norkom Technologies.

This deal marks Norkom’s entry into the Spanish financial services market, and it will also help Santander deploy the product across all of its European and Latin American operations, which will help the bank comply with strict regulations. Banks are beginning to sharpen their automated systems, trying to prevent money laundering from occurring before it is too late.

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