State Bank of India on Tuesday entered into an agreement with IT-solutions provider 3i Infotech to implement Anti Money Laundering software Amlock in the bank.
The solution will be implemented across the State Bank Group comprising SBI and its six associate banks, which together have 16,000 branches.
"SBI is in sync with global awareness for matters related to anti money laundering and this partnership is a step to have an efficient technology system to keep pace with the global challenges," SBI's chief general manager B S Bhasin said.
3i Infotech offers IT services to insurance, banking, capital markets, mutual funds, welath management and government verticals.
The company has operations in 50 countries across the globe.
