Sampath Bank first in Sri Lanka to successfully implement 3i Infotech’s Anti Money Laundering Softwa

With the successful implementation of 3i Infotech’s AMLock Anti Money Laundering (AML) software at Sampath Bank PLC, the bank has the distinction of being the first major bank in Sri Lanka to be AML compliant.

This achievement not only places Sampath Bank as a pioneer in this field among its peers in the country, but is also likely to give the bank reputational advantage for correspondent banking in markets outside of Sri Lanka.

Sampath Bank Managing Director Aravinda Perera said: “We owe it to our customers to choose only the best in an important area such as Anti Money Laundering. We therefore chose AMLock from 3i Infotech, because of its strong credentials and technical strengths, strong presence in the subcontinent, compliance to Sri Lankan regulation and an impressive customer base. With its successful and timely implementation, we have taken one more step to enhancing customer confidence in us. We reaffirm our quest to upgrading our technological capabilities even further, to be able to deliver more efficiently to our customers.”

3i Infotech Region Head – South Asia V. Narayan said: “With the successful implementation of our AMLock AML solution at Sampath Bank, we are happy to have delivered on our commitment, which has enabled our valued customer to meet this important compliance milestone. This also reiterates our commitment to the BFSI market in Sri Lanka. Already having a string of successful AML engagements in this market over the past two years, we are now also looking to launch our other premium banking and financial solutions in Sri Lanka.”

Sampath Bank chose 3i Infotech’s AMLock AML software based on a rigorous selection and due diligence process initiated by a consortium of 13 banks in Sri Lanka and facilitated by the Sri Lanka Bankers Association (SLBA). Not surprisingly, 3i Infotech has since also acquired orders from other reputed banks in Sri Lanka for their AML software solution and currently has a fair presence in Sri Lanka.  

AMLock from 3i Infotech is an award winning, state-of-the-art software solution for banks and financial institutions that meets the compliance needs for Anti Money Laundering and Financial Crime Detection. This software has been deployed at more than 65 banks in numerous countries, including several of the leading banks in India, where it is a market leader, and has been integrated with more than 25 source systems in these banks.

3i Infotech has a wide variety of product offerings for the banking and financial services industry, which also include its universal lending solution, treasury management, asset liabilities management, mutual fund, trade finance, leasing and factoring solutions.

For local operations and on ground support in Colombo, 3i Infotech has tied up with DMS Software Engineering. Together, 3i Infotech and DMS will install, implement, train and support the AMLock software in Sri Lanka.