Under the TSUBASA Alliance arm¹, the three banks and other members have been promoting collaborative efforts for planning and research in Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT). The new company will further accelerate their collaboration to advance in this space.

“We’re very excited to partner with reputable banks in Japan to combine their rich hands-on experience and knowledge in financial services with our state-of-the-art financial IT solutions,” said Hiroshi Koike, Senior Managing Director at NRI. “Financial crimes have profound economic consequences around the globe, making it all the more important to collaborate across sectors and to have optimized systems in place to solve evolving challenges and maximize opportunities.”

TSUBASA – AML Center, LTD. plans to adopt GPLEX, NRI’s AML/CFT SaaS, as a platform that provides the three banks with a centralized operation service of AML/CFT including transaction monitoring, suspicious transaction reporting, name screening and customer risk assessment. As other member banks of the alliance will be invited to join the service, the company is looking to expand it to more regional banks in Japan in the future.

NRI has a 19.4% investment stake in the company, which is valued at 165 million yen.

New Company Overview

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  Wide-area alliance among 10 regional banks, The Chiba Bank, Ltd., The Daishi Hokuetsu Bank, Ltd., The Chugoku Bank, Ltd., The Iyo Bank, Ltd., THE TOHO BANK, LTD., North Pacific Bank, Ltd., The Musashino Bank, Ltd., THE SHIGA BANK, LTD., Bank of The Ryukyus, Limited, The Gunma Bank, Ltd.