Bank of In­dia looks for AML so­lu­tion for RRBs

Banking Frontiers - - Project Pipeline -

Bank of In­dia is look­ing for a ser­vice provider to com­mis­sion an end to end Anti Money Laun­der­ing (AML) so­lu­tion in the re­gional ru­ral banks spon­sored by the bank as a part of the mon­i­tor­ing and ad­min­is­tra­tions func­tions. The so­lu­tion de­ployed would be in line with the gov­ern­ment / reg­u­la­tory anti money laun­der­ing re­quire­ments as pre­scribed from time to time. The so­lu­tion will have to be up­graded by the ven­dor free of cost any time in the event of any changes / mod­i­fi­ca­tion / new reg­u­la­tory re­quire­ments or re­port­ing re­quire­ments and it would need to be in­ter­faced to the CBS and other 3rd party so­lu­tions to meet the busi­ness re­quire­ments. The bank wants the ser­vice provider to be a sys­tem in­te­gra­tor for pro­vid­ing an end to end scal­able AML so­lu­tion at all the ex­ist­ing branches / re­gional of­fices of RRBs - 1671 branches and 29 re­gional of­fices.

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