Union Bank of India (UK) Ltd signs for AMLtrac

Union Bank of India (UK) Ltd a new bank in London have signed for International Financial Systems AMLtrac as their anti-money-laundering system of choice. In particular the bank will be using the KYC and Document Management, Account Monitoring and Transaction Tracking, and Alert Management modules of the application. AMLtrac will sit in front of, and integrates to Infosys’s Finacle system which is hosted in India.

The new bank is a wholly owned subsidiary of Union Bank of India which was incorporated in 1919 and has its registered office at Mumbai, India. It is one of the largest Public Sector Banks in India having over 4,000 branches and a customer base exceeding 50 million.

Sales director Matthew Day said “It’s wonderful news that the new bank has decided to use an automated anti-money-laundering system from day one of its operation and it is even better news is that they have chosen AMLtrac. We look forward to a long and mutually beneficial working relationship with the bank for many years to come.”


More about iFinancial