Case Study: Industrial Bank of Korea strengthens AML screening with Eastnets SafeWatch

Industrial Bank of Korea boosts real-time AML screening across 20+ countries with Eastnets

The Industrial Bank of Korea (IBK) faced significant challenges in managing its anti-money laundering (AML) compliance due to its use of multiple, disparate screening systems. This cumbersome setup reduced visibility across its global operations, required frequent manual checks, and led to high maintenance costs. To overcome this, IBK partnered with Eastnets to implement the SafeWatch Screening solution to centralize and enhance its transaction monitoring capabilities.

Eastnets provided IBK with its SafeWatch Screening (SWS) solution, which serves as a centralized system for real-time and batch watchlist screening. The implementation resulted in significantly faster and more accurate screening, greater flexibility to respond to new regulations, and increased visibility across all departments and branches. According to an IBK compliance head, the solution allows the bank to quickly respond to compliance laws and has become an integral part of their work.

Industrial Bank of Korea (ibk)