First Abu Dhabi Bank (FAB) has selected Accuity’s data and technology solutions for integrated global sanction screening.
The UAE based bank will deploy Accuity’s Fircosoft data and technology platforms to bolster its transaction, customer and third-party screening processes.
Delivered through a consultative partnership, the Fircosoft portfolio of data-enabled technology solutions offers multipurpose resources that help in curbing risk, enhance efficiency and meet regulatory requirements.
The technology vendor claimed that FAB’s compliance screening processes will become “more efficient, meet the highest compliance standards and ultimately provide greater confidence to its many stakeholders.”
FAB group chief risk officer Arif Shaikh said: “The Fircosoft solution from Accuity provides us with a robust platform to ensure financial crime compliance is not only managed efficiently, but that it makes FAB stronger, today and in the future.
“We can continue to help our customers; shareholders, employees and communities grow, with added confidence that we have a best in class screening solution to support our efforts in managing financial crime compliance.”
Accuity president and CEO Hugh Jones said: “Our Fircosoft account and transaction screening platform combines an industry standard filter and developments in machine learning, together with our data that has been optimised to run on the platform. This helps our clients understand and manage their risk exposure and meet regulatory requirements.”