Mumbai: Bangalore-based IT company LogicaCMG would increase its headcount by 1,500 at its offshore service centre by 2005 end, even as it was eyeing to garner about 50 per cent of the $ 20 million Anti-Money Laundering (AML) solutions market in the next three years.

"We have started implementing our AML solution at the ING Vsya Bank and will start implementing it in three other banks by the December," its Managing Director (south Asia) Kannan Ramaswamy said in Mumbai. The company was speaking with five other banks and was expected to start implementing the ALM solution by March 2005.

It was eyeing to capture 50 per cent of the $ 20 million AML market in next three years, he said.

LogicaCMG, which has implemented the RTGS solutions for the Reserve Bank of India, was planning to enter into the core banking solution area.

Under its expansion plans, it would increase its headcount to 1500 at its offshore service centre from the present 1,000 till the year-end and to 2,500 by 2005 end.