Al Rajhi licenses new anti-money laundering software from ACI Worldwide

Published February 26th, 2003 - 02:00 GMT

International provider of enterprise e-payment solutions ACI Worldwide has announced that Al-Rajhi Banking and Investment Corporation, (ARB), has licensed ACI's Proactive Risk Manager (PRM) software to crack-down on fraud and money laundering. 


Also, SAMA, the Central Bank of Saudi Arabia has mandated that all banks in the Kingdom must deploy anti-money laundering systems. PRM is a solution that can be implemented quickly and is extremely competitively priced. It allows ARB to meet SAMA's mandates and avoid any penalties. 


The bank has the option to expand PRM to monitor its debit and credit cards for fraudulent activity. It also has the opportunity to adopt a neural network as a second phase of the project. 


ARB is one of the largest banks in the Middle East. The Corporation has a network of 378 branches distributed throughout the Kingdom, the largest ATM network of 770 machines, and over 4500 POS installed with merchants all over the Kingdom. — ( 

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