Longtop Financial Technologies says it will provide one of China’s joint stock banks with a customized software solution for the bank’s anti-money laundering system.

Under the terms of the agreement, Longtop will develop at the bank’s headquarter level a centralized anti-money laundering system to automate the analysis, screening and reporting of transactions. The system is necessary to meet the Chinese banking regulatory requirement that financial institutions have in place a sound anti-money laundering internal control system. (PRNewswire)