The Stockholm banking company Skandiaviska Enskilda Banken AB is using anti-money-laundering software from Fiserv Inc. to analyze transactions in 17 countries in Europe and Asia.
Fiserv, of Brookfield, Wis., said Monday that SEB has implemented its Anti-Money Laundering Compliance Manager application throughout most of its operations.
The 18-month project was completed on budget, putting a monitoring hub in Stockholm with a secondary site in Russia, Fiserv said. The software examines transactions for signs of illegal activity.
SEB has operations in about 20 countries, including several that it said have tight regulatory environments, such as China and Russia.
SEB is also using Fiserv's Advanced Peer Group module, which develops profiles for groups of similar customers and can help the bank find transactions that seem unusual.
