![]() Further, a skilled technical team operates data ETL (extract, transport, and load) tools to give enough focus for data-mapping exercises. The bank instituted a strong data team to ensure the model functions effectively. ![]() The initiative also demanded other bank-wide changes, including new resources and data sources, as well as new ways of working among compliance, business and IT. The audit yielded the most comprehensive and relevant list of business requirements and helped define minimum AML standards for BBL in its entirety. The project involved auditing each location's regulatory needs and banking activities and incorporating global best practices and guidelines. "The various rules-based anti-money laundering systems we had in place around the world were still adequate for compliance with each local regulator's requirements on a case-by-case basis, but we recognized the need and opportunity for transformation," she added.Īdvanced analytics tools and bank-wide changesīBL and SAS collaborated in developing and deploying a single AML solution to replace the bank's legacy systems with more advanced analytics tools. "It is a global problem, requiring a global solution." "Money-laundering is a serious and growing challenge for the world's finance system, and financial authorities around the world have put in place stringent requirements for banks to tackle it," said Suteera Sripaibulya, Senior Executive Vice President of the IT Division at BBL. ![]() Bangkok Bank’s digital transformation project with SAS was chosen from among more than 1,000 high-quality entries received from end-user organizations across Asia/Pacific. ![]()
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