Case Study: Industrial Bank of Korea improves transaction screening with Eastnets SafeWatch Screening

Industrial Bank of Korea enhances capabilities to detect and prevent suspicious transactions with Eastnets SafeWatch Screening

Industrial Bank of Korea (IBK), a nationwide bank headquartered in Seoul with branches and subsidiaries across more than 20 countries, needed a better way to manage multiple disparate screening and transaction monitoring systems. Its compliance team faced cumbersome administration, high maintenance costs, limited visibility across operations, and manual checks to keep up with diverse regulatory requirements.

Eastnets implemented its SafeWatch Screening solution to centralize real-time transaction, customer, and message screening across IBK’s branches and jurisdictions. The platform improved detection accuracy and reliability, reduced false positives, increased visibility, and made it easier for IBK to respond quickly to regulatory changes, while also cutting compliance-related costs by replacing multiple systems with one holistic solution.

Industrial Bank of Korea

Chang, Seo Yuop

Compliance IT Head