The Alacer Group, dedicated to helping business leaders accelerate performance, quality, productivity and profitability, today announced that its Velocity AML Suite has been chosen by three prominent banks in Bangladesh to improve AML case workflow and security. After an extensive search process, Mercantile Bank Limited, Social Islami Bank Limited (SIBL) and Meghna Bank selected Alacer’s Velocity AML Suite to ensure robust KYC/CIP onboarding, sanctions screening, payments interdiction and transaction profiling, all key operational areas that support local and international anti-money laundering efforts. The banks selected the Velocity solution for its ability to be quickly deployed, its robust reporting features and for the delivery of consistent and full compliance with AML regulatory requirements.
Alacer’s Velocity AML Suite is a powerful and scalable set of system modules specifically designed for facilitating AML case workflow and reporting. Velocity combines smart case management, sanctions screening, transactions monitoring and KYC/CDD functionalities. Each component in the suite is scaled to meet local and global regulatory requirements accurately, consistently and predictably. Velocity offers seamless integration with core banking systems and can be used on its own to perform KYC/CDD, alerts reviews, transaction monitoring, sanctions screening, real-time payments interdiction and periodic reviews. The system is purposefully designed to meet international regulatory compliance standards and its powerful reporting capabilities gives management insights on effectiveness, productivity and resource utilization.
About DataSoft Bangladesh Limited
DataSoft is a CMMi level 5 in progress, ISO 9001:2008 certified leading software product and services company in Bangladesh. Since 1998, DataSoft has established a successful track record of delivering innovative and cost-effective technical services to customers in the corporate and public sectors. Fortune 500 companies have selected DataSoft for mission critical public services, IT services such as e-Payment, Customs House Automation and Port IT operation (CTMS), automation of commercial banks, and the deployment of a SaaS model on a private cloud to more than 2200 microfinance banks.
About The Alacer Group
Headquartered in Bellevue, WA, with offices in New York and Dallas, The Alacer Group is a business consulting firm focused on four practice areas: big data, technology, finance and healthcare. Offering expert consultants around the globe, Alacer works with companies to resolve their needs quickly and smartly, resulting in positive outcomes. Alacer’s experienced anti-money laundering specialists design, develop, and implement effective process and system solutions for financial institutions. We help clients strengthen AML and compliance controls while improving efficiency through the application of the right mix of people, process and technology.