Bank of Tokyo-Mistubishi UFJ is planning to use anti-laundering software from Actimize Inc., a New York unit of the Israeli technology provider Nice Systems Ltd.
Actimize said Monday that the bank, a unit of Mitsubishi UFJ Financial Group Inc., would use its application to monitor transactions at branches in Japan and subsidiaries in other countries.
The software provides online case management and investigation, alerts, and detailed audit histories for specific transactions, Actimize said. It can evaluate transactions even when the financial company has little information about the payment or the people involved.
"Actimize proved that its AML solution can accurately identify transactions that Japan's Financial Services Authority deem 'suspicious,' " Toshiyasu Terao, the chief manager of Bank of Tokyo-Mitsubishi's global compliance division, said in a press release from the vendor.
Actimize offers its products in multiple languages and has said that it wants to attract more customers in Asia.
