Bank of Cyprus, Laiki Group, Hellenic Bank, Emporiki and Universal Bank will implement Side SafeWatch, which can filter Greek character sets and ensure compliance with European standards as specified by anti-money laundering directives.
Side says its technology allows automated AML checking on the complete financial flow, and emphasizes enterprise-wide features like auditing, security management and reporting. It can simultaneously analyze a large variety of sources, including text files, real-time flows, Swift messages, MQ Series, and databases. All detections are sent to a central database, and users are notified automatically by email.
Its central alert management allows the compliance officers to check, investigate and act on all alerts in one place, independently from the source connector, and without any performance impact on real-time financial systems.
