MOST Technologies announced the commencement of a new project to improve the money laundry reporting process with one of the Israeli leading commercial banks.
Due to increased regulations on fighting money laundering in Israel, banks are required to enhance their reporting mechanisms to Israeli authorities.
The bank has chosen MOST for improving and modernizing their existing processes to meet the government's requirements.
In this project, MOST will use its mainframe tool-set OnTarget, to analyze the customer's applications and database. OnTarget will also assist the team to automatically modify and enhance the relevant applications.
MOST's project manager stated that in addition to OnTarget the technical team will apply the latest DevOps and project management products and technologies. These will also include MOST's mainframe regression testing product MF-Test.
"This long term project is estimated to initially run for more than a year and it receives close attention from the highest level of the bank's management" - says Moshe Shichrur, MOST deputy CEO.