Vijaya Bank to install SDG warning system
By Our Banking Bureau | 12 Aug 2004
Chennai:
Vijaya Bank has selected SDG Software Technologies to
install BankAlert, an early warning system to detect money
laundering, fraud and out-of-profile behaviour of customers
and accounts.
Suheim Sheikh, managing director, SDG Software, said Wipro Technologies would be the system integrator for the deployment and the software was being integrated with Finacle, the core banking software from Infosys.
He said that the software would be a central installation as part of the bank''s core banking solution. Bank officials said it would soon be operational in about 360 existing branches and 50 new branches.
About 75 per cent of the bank''s business is routed through these branches.
The software would enable the bank to put every transaction through a validation check that would detect any abnormal transfer of funds to "undesirable hands".
