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Arab National Bank launches an anti-money laundering and fraud detection system from ACI Worldwide; Hokuriku and Ashikaga Banks roll out an ASP solution from NTTDATA and FNX Limited; Siam City Bank chooses straight through processing (STP) and trade processing solutions from Reuters.

Arab National Bank, Saudi Arabia, has launched an anti-money laundering and fraud detection system using ACI Proactive Risk Manager fraud detection software from ACI Worldwide, Omaha, Neb.

To identify money laundering, Arab National Bank will use the ACI system to detect the complex and diverse methods used to launder funds through financial institutions. Money launderers move money through as many bank accounts and countries as possible, so the funds appear to be legitimate income. ACI Proactive Risk Manager monitors all aspects of account activity to find the complex patterns of behavior that match confirmed money laundering activities.

In addition to money laundering detection, ACI Proactive Risk manager will monitor deposit and authorization activity at Arab National Bank to detect merchant fraud.

"The bank's ability to meet with local and international directives on money laundering and fraud will be greatly improved in terms of compliance level and time taken to implement, benefiting our customers and the bank's reputation," said Ahmad Ashgan, general manager Information Technology of Arab National Bank.


Hokuriku and Ashikaga Banks, two regional financial institutions based in Japan, has rolled out an ASP solution from NTTDATA, Japan, and FNX Limited, Philadelphia.

FNX and NTTDATA have been working jointly to develop a Japanese language-based ASP product that would be built around FNX's Sierra ASP solution. Hokuriku and Ashikaga banks are the first to deploy Sierra ASP through FNX's relationship with NTTDATA, and they provide additional validation for FNX's overall ASP model as well.

Hokuriku Bank's decision to use Sierra ASP was based on a significant expansion in the scale of its clients' derivatives trading needs (interest rate swaps, FX options, etc.) as its customers focus increasing attention on the management of risk associated with fluctuations in interest and exchange rates. Hokuriku Bank officials emphasized that the introduction of an advanced trading system will enhance its ability to provide the breadth and depth of functionality required as its customers expand operations outside of Japan.

The launch of Sierra ASP at Ashikaga is part of an on-going initiative at the bank to strengthen risk management capabilities, increase business efficiency, and above all else provide the bank's customers with advanced financial technology for the processing of derivative-related products.


Siam City Bank, Bangkok, has chosen straight through processing (STP) and trade processing solutions from Reuters for its foreign exchange, money market and fixed income businesses.

Siam City Bank is the first bank in Thailand to install Reuters Trade Processing (RTP) as a back office solution along with Kondor+ for STP to streamline the bank's front and back office operations while providing foundations to improve their bottom line. Reuters Consulting will be carrying out the implementation and system integration tasks. Kondor+ has been already successfully rolled out in the Thai market for several years.

"There are increasing pressures to drive financial institutions to seek efficiencies, deliver cost savings, risk control and improved levels of customer satisfaction as our bank faces both aggressive domestic and regional competition," said Sanur Yodpinit, executive vice president, Siam City Bank. "We believe that partnering Reuters will give us the true benefits of a globally consistent set of high quality, value-added solutions in the areas of content management, integration, trading and trade and risk management to help us expand our market share."

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