Bank of Ceylon combats financial crime with CustomerXPs’ tech
CustomerXPs gains new client in Sri Lanka
Sri Lanka’s largest bank, Bank of Ceylon (BOC), has signed for CustomerXPs’ Clari5 anti-money laundering (AML) solution for combating money laundering threats in real-time.
CustomerXPs says the deal was inked following “an extensive evaluation of global vendors”, and its solution was chosen for its real-time, cross-channel capabilities, ahead of “conventional solutions that have a siloed, single channel only approach for AML and combatting financing terrorism (CFT)”.
The deal was done via CustomerXPs’ technology partner in Southeast Asia, Epic Technology Group, which will also help implement the Clari5 solution at BOC.
“Being bankers to the nation and moreover a systemically important bank, we have a far greater responsibility of leading by example for other financial institutions in the region,” states Asoka Pinnaduwage, AGM, compliance at BOC.
“We wanted to stay ahead of both domestic as well as global risk regulations with an advanced counter financial crime technology available. We are confident that Clari5’s real-time, cross-channel prowess will strengthen our AML/CFT strategy.”
