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Tuesday, January 09, 2007
MUMBAI: Infrasoft Technologies, provider of technology solutions to banking and financial institutions has announced that it will implement its Anti-Money Laundering (AML) solutions at HDFC Standard Life.
OMNIEnterpriseTM: AML solution is a combination of Customer Profiling through KYC (Know Your Customer), Customer Identification Process, Customer Risk Rating, Behavior Profiling, Customer Links and STR Reporting, an Infrasoft statement said.
Sunil Rawlani, head - Information Systems and Technology, HDFC Standard Life, said, "We are happy to be the first Insurance company in India to implement an enterprise wide AML solution, based on IRDA guidelines. InfrasoftTech's OMNIEnterpriseTM: AML solution delivers superior detection through its expert rules, profiling and advanced statistical and processing techniques."
HDFC SL has initiated the process of deploying AML solution, created specifically for the insurance segment, to simplify the task of detecting suspected money laundering activities.
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