The bank will use NetEconomy’s Erase compliance manager platform to monitor customer profiles and detect suspicious transactions. The system will also provide case management and reporting facilities to the bank’s operations in Mumbai.
The platform works by enabling the bank to build a profile of each of its customers and their expected transactions. When unusual transactions occur, the bank is alerted immediately.
Mr Bhaskar Ghose, managing director, IndusInd Bank said, IndusInd Bank has made arrangements to deploy the ERASE anti-money-laundering application in collaboration with LogicaCMG to operate with increased efficiency, while leveraging global best practices in regulatory compliance.
