3i Infotech to implement AML solution for BoI

MUMBAI: IT solutions provider, 3i Infotech, on Monday said that Bank of India (BoI) has signed an agreement to implement AMLOCK, 3i Infotech's anti-money laundering (AML) software.

As a part of this agreement, 3i would undertake complete system integration, from procurement and installation of hardware including storage, database, middleware and report writer, a release said here.

"This agreement to implement AML solution for a reputed bank like Bank of India is yet another testament of our wide acceptance in the financial services sector," 3i Infotech's Executive Director and President, Anirudh Prabhakaran, said.

"We are happy to partner 3i Infotech to implement AML software solution in our bank," Bank of India's General Manager (Information Technology), P A Kalyanasundar, said.

AMLOCK has the capability of receiving data from multiple sources systems that organisations like financial institutions may be using for different operations. 3i Infotech is one of the top 4 Indian software products companies.

It provides software products and IT services like payment services, business intelligence, IT consulting and transaction services, amongst others, for the insurance, banking, capital markets, mutual funds, manufacturing, wealth management and Government verticals.