International Bank of Azerbaijan Takes An Integrated Approach To Prevent Financial Crime Using FICO Solution
For more information https://www.fico.com/en/products/compliance
The system incorporates three modules that allow maximum automation of combating money laundering and terrorist financing by means of customer behavior and transaction monitoring (Siron® AML), customer risk screening and rating (Siron® KYC) and real-time transaction screening (Siron® Embargo).
The bank's authorized employees are provided with the access to the system components to make both real-time decisions as well as performing retrospective operational analysis. For the bank, the solution based on FICO software minimized compliance risks while also meeting regulatory requirements.
The project on automation for combating money laundering and terrorist financing processes in the
"With its wide network of foreign correspondents and the largest customer base, the
"As a leading international bank, IBA is at the front line in the war against financial crime. The challenge here is to comply with international and local regulations and minimizing the bank's risk exposure while having associated costs under control to stay competitive," commented Dr
"We would like to commend the proficiency of the bank's project team and their deep understanding of IBA's customer needs," said Anna Dmitrakova, director of the financial solutions sales department at RDTEX. "We are confident that the bank's increased efficiency in combating financial crime is a direct result of the collaborative efforts of a project team comprising of experts from all three stakeholders - the
FICO® Siron® Anti-Financial Crime Solutions Suite includes a full range of modular solutions with extensive functionality satisfying customers' requirements and allowing to combat money laundering and terrorist financing. The modularity of the solution allows you to vary product combinations. This enables firms to get tailor-made solutions against money-laundering, fraud, terrorist financing, and to comply with both customers' demands and regulatory requirements.
RDTEX was established in 1992 and for 28 years has been executing projects that improve efficiency and competitiveness of its customers' businesses. Services delivered by RDTEX include development and implementation of information systems, management consulting and technological consulting.
RDTEX has successfully completed more than 700 projects that embrace the development of unique information and analytical solutions as well as generic solutions for large state and commercial organizations. These solutions are based on software products from global vendors who are leaders in the enterprise software market - Oracle,
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in
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FICO and Siron are registered trademarks of
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