The society’s risk and compliance team wanted the new solution to create, manage and change anti-money laundering and financial crime rules to react to changing circumstances.  

Jade ThirdEye will provide the Scottish Building Society with a solution for automating the transaction monitoring and watchlist screening components of the anti-money laundering and financial crime compliance programme.  

Commenting on the implementation, Scottish Building Society chief risk officer Derek Johnston says: “Choosing Jade ThirdEye provides our members with further peace of mind that the Society has taken enhanced measures to protect against money laundering and financial crime.” 

“We were very impressed with the level of support Jade ThirdEye provided during implementation, assisting with data integrity to enable a smooth transition from our old solution and ultimately ensure the most effective transaction monitoring results. The team is also on hand to support 24/7 in creation, management and changing of rules should it be needed.”

Jade ThirdEye UK country manager Chris Holmes adds: “As a growing organisation ourselves we are delighted to be working with the oldest remaining building society in the world to bring efficiencies to their anti-money laundering and financial crime compliance process and provide a solution that will continue to scale with them over time.”