The Bank of Taiwan has signed two-year core banking contract with a Unisys’ Taiwanese subsidiary.

Under the contract, Unisys will extend the core banking system to support the bank’s seven overseas branches and manage the requirements of Taiwan’s Anti-Money Laundering (AML) legislation.

The new system will be expanded to include overseas branches, creating a single global system. The bank hopes this will help: ‘leverage the bank’s existing investments in staff, reporting and risk management procedures.’

“In today’s complex banking environment it is vital that financial institutions have the tools and audit trail to help detect and prevent money laundering activity. The new core banking solution that Unisys is managing for Bank of Taiwan is designed to not only help the bank meet its AML obligations, but also enhance the services the bank provides to the overseas branches and their customers,” said Scott Whyman, vice president, Unisys Asia.