Citizens First Bank of The Villages, Fla., has agreed to use online software from Financial Services Inc. to track money laundering.
The Glenn Rock, N.J., vendor announced the deal Wednesday but did not say when Citizens First, a unit of Villages Bancorp. Inc., would implement the software.
Installing the Patriot Officer application is much faster and easier than developing similar capabilities in-house, FSI said.
Patrick Schunke, FSI's president said in a press release, said the contract with Citizens First would help his vendor expand in the South.
"While FSI has been a well-known processing and Internet service provider to banks in the Northeast for many decades, we are happy to have begun doing business with banks in Florida," Mr. Schunke said.
