FirstBank of Nigeria PLC has agreed to use anti-laundering and compliance software from Mantas Inc., a Herndon, Va., unit of i-flex solutions ltd. of Mumbai.
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Mantas said last week that FirstBank will use its Mantas One software, in part to meet the expectations of the Economic and Financial Crime Commission, a Nigerian regulator that has urged banks to step up their efforts to stop crime.
Mantas One can help banks "address current and evolving regulations regarding broker surveillance, trading compliance, anti-money-laundering, and other crucial purposes," S. Ramakrishnan, Mantas' chief executive, said in a press release.
