By ET Bureau - September 08, 2020 3 Mins Read
Today, BAE Systems Applied Intelligence announced a new offering created on Amazon Web Services (AWS) to deliver complete anti-money laundering regulatory compliance solutions. The solution is supported by the availability, reliability and security of AWS and offers banks and financial institutions the opportunity to quickly stand up an affordable integrated financial crime regulatory compliance solution.
Through this implementation, BAE Systems will provide customers with advisory services, as well as implementation, migration, and management of regulatory and compliance solutions on AWS. By building on AWS, BAE Systems Applied Intelligence offers a flexible commercial model with no upfront costs – minimising an organisation’s capital expenditure and maximising ROI. Customers will connect quickly with standard regulatory compliance data interfaces, designed specifically for their industry and territory, significantly reducing the effort of internal IT teams with standard data interfaces and full service management. Once deployed, service levels include hardware and software availability, security patches, support responsiveness, system upgrades, support and maintenance.
Last month, BAE Systems Applied Intelligence announced NetReveal 360°, a complete regulatory compliance solution, packaged to operationalise quickly. Out of the box, customers receive a specifically designed service for the organisation, which includes end-to-end solutions for Customer Due Diligence (CDD), Anti Money Laundering (AML), and Watchlist Management (WLM). Provisioning, management, and support of both the business solutions and underlying AWS infrastructure is completed by BAE Systems Applied Intelligence to provide customers with a single point of contact and with clear responsibility.
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Financial institutions want to focus on delivering outstanding services and experiences to customers and growing their organisations, but at the same time they need to ensure they adhere to the latest regulations and avoid regulatory fines. In smaller organisations, the challenge is balancing these two things – navigating changing regulations while making the best use of investigative teams in tackling financial crime. If you are a smaller or emerging financial institution, NetReveal 360° offers an affordable and rapid go-live – for the key elements of fighting financial crime. Larger banks which are looking to deploy standard set ups quickly can enjoy the same benefits that would be gained by smaller banks
With over 20+ years’ experience in financial crime regulatory compliance, BAE Systems Applied Intelligence has a deep understanding of what organizations require to fully comply with applicable anti-money laundering regulations. At the same time, we understand the challenges financial organizations face in managing a regulatory compliance solution – specifically the need to stand up an affordable integrated financial crime regulatory compliance solution quickly, efficiently and cost-effectively.
Garry Harrison, Managing Director of Financial Services at BAE Systems Applied Intelligence said, “The importance of cloud has never been greater as we continue to outmaneuver the uncertainty caused by the global pandemic; living with increasing levels of financial crime and cyber breaches. Cloud technology is vital to helping companies unlock greater efficiency, elasticity and innovation, and drive enduring business change at speed and scale. We are easing the burden of all financial institutions, both large and small, to become and remain compliant against increasing complex regulatory requirements. We chose to build on AWS because of their deep technical expertise and global scale. With a strengthened collaboration with AWS, we further enhance our position as a leader in financial services.”
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