Wales’ Biggest Building Society Strengthens Financial Crime Defences with New AML Technology

Principality Building Society, the largest building society in Wales, has selected Jade ThirdEye to strengthen its ability to detect and prevent financial crime.

Launched in 2012 by New Zealand’s Jade Software, Jade ThirdEye is a cloud-based anti-money laundering (AML) solution that automates customer screening, transaction monitoring, case management, and regulatory reporting.

The Software-as-a-Service platform currently supports more than one-third of UK building societies, including Dudley Building Society, Leek Building Society, and Marsden Building Society.

Principality, established in 1860, holds £14.1 billion in assets and serves more than 500,000 members, ranking as the sixth largest building society in the UK. The institution provides savings accounts and mortgage services through a network of 53 branches and 14 agencies.

“Jade ThirdEye will significantly enhance our financial crime team’s efficiency. By automating transaction monitoring, the team can dedicate more time to investigating suspicious activities and safeguarding our members from financial crime.”

— Kara Conlon, Head of Financial Crime, Principality Building Society