Bradford & Bingley’s (B&B) financial crime management team has deployed Compliance Alert from Northland Solutions across the bank’s entire business platform, including mortgage lending and savings.
The decision to implement a new unified transaction management system (TMS) was taken as part of B&B’s move to reinforce and assure compliance with all relevant legislation, regulation and financial sector industry guidance, the forthcoming European Third Directive and the group’s financial crime policy. Northland Solutions was selected after an extensive procurement process, which considered the main players in this market.
B&B makes optimum use of Compliance Alert by consolidating all of its activities, including a facility to monitor sanctions and politically exposed persons lists, within the integrated case management workflow module. This provides a single view of the entire business and one-stop management reporting.
The deployment of TMS has enabled us to integrate the financial crime compliance requirements of each business unit onto one system, so providing greater control over our financial crime risks allowing us to employ best business practice and demonstrate regulatory compliance, commented Ken Bridson, head of financial crime management & MLRO at B&B.
