Leek Building Society taps Jade ThirdEye to enhance AML and CTF controls
The UK’s Leek Building Society has selected Jade ThirdEye to enhance its ability to detect money laundering and financial crime.
Leek Building Society partners Jade ThirdEye
Leek Building Society will use Jade ThirdEye’s Customer Screening and Transaction Monitoring SaaS (Software-as-a-Service) solution to boost the efficiency of its anti-money laundering (AML) and counter-terrorist financing (CTF) controls.
Andrew Davies, money laundering reporting officer (MLRO) at Leek Building Society, says Jade ThirdEye’s tech “automates our transaction and customer screening”, freeing up time and resources for the financial crime team to “investigate suspicious activity and protect our members from money laundering and financial crime”.
Davies adds that the solution provides the building society “with the flexibility to create, manage and change” anti-money laundering and financial crime rules to “react rapidly” to changing risks.
“As a cloud-based managed service, the solution is particularly attractive as it is automatically and regularly updated,” he says.
Leek Building Society boasts 12 UK branches serving members across Staffordshire, Cheshire, Derbyshire and Shropshire.
Jade ThirdEye’s other recent clients include Northern Ireland’s Progressive Building Society and Scottish Building Society.
