Anti-Money Laundering: Managing Customer Information
Anti-Money Laundering: Managing Customer Information
Building a advanced Anti-Money Laundering (AML) and Know Your Customer (KYC) platform
With the rise of automation and interconnected financial systems, money laundering has become a critical global challenge. Criminal networks exploit financial institutions to mask illicit profits from drug trafficking to terrorist financing, making them appear legitimate. Our client, a Tier 1 banking institution, engaged DataSpartan to develop an advanced Anti-Money Laundering (AML) and Know Your Customer (KYC) platform. The system was designed to manage customer data, assess credit risk, and ensure seamless compliance with Central Bank and regulatory requirements.
DataSpartan embedded a dedicated development team within the client’s organization. Working closely with technology leads and product owners, the team built a platform seamlessly integrated with the client’s existing technology stack.
DataSpartan developed a complete end-to-end system leveraging J2EE, DB2, Oracle, and BizTalk. Delivered through agile methodologies, the project was completed in multiple sprints over six months. Alongside robust backend capabilities, the team built an extensible internal dashboard, giving management a real-time global view of customer credit risk. The system, now fully operational, enables the client to generate credit reports for Central Bank compliance and has automated numerous previously manual processes.
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