Powering Agricultural Bank of China’s payment processing and AML systems
ACI Worldwide, a provider of payment systems, has made public details of an agreement made earlier this year with Agriculture Bank of China (view press release). Through the deal the bank will implement ACI Money Transfer System and ACI Proactive Risk Manager as its wholesale payment processing and anti-money laundering (AML) solution to assist with its expansion into the US market.
The Money Transfer System is designed to help advanced payment management, execution and streamlined banking operations. It also allows global processing needs to be centralised in a single location or distributed via a configurable network. In addition, the Enterprise Sanction Filter of the solution has been created to provide a set of services which position banks to maintain continuous regulatory compliance. The Risk Manager is a financial crime management solution which aims to help card issuers, merchants, acquirers and financial institutions combat fraud and money-laundering schemes.
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