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Union Bank Deploys Financial Crime-Fighting Software

Wolters Kluwer's Wiz Sentri software monitors customer and employee activity for signs of and should protect the bank's customers.

Union Bank, San Francisco ($86 billion in assets), has selected Wolters Kluwer Financial Services' Wiz Sentri: Financial Crime Control solution to monitor and manage operational risk tied to financial crime in each of their major business lines using a single technology platform.

"Protecting our institution from the growing threat of financial crime is paramount," said Bill Ward, senior vice president of the San Francisco-based bank's Enterprise Business Security & Intelligence division, in a statement. "We selected Wolters Kluwer Financial Services for their compliance and operational risk management expertise and Wiz Sentri's real-time, continuous behavioral monitoring, analysis and investigation capabilities. When combined, the two enable us to deliver on a preventative strategy with respect to fraudulent attacks."

The Wiz Sentri: Financial Crime Control solution platform employs network surveillance technology. It enables institutions to create and continually update profiles of normal customer, employee, account, loan and transactional activity. When the system detects suspicious or anomalous behavior, it notifies the institution, helping it to prevent a possible financial crime from occurring.

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