UR Islamic Bank will implement Capital Banking Solutions’ integrated compliance platform to help prevent money laundering and tax evasion in Iraq.
The CapitalCompliance solution helps automate the monitoring, documentation, analysis and reporting requirements of regulations such as AML, name screening, KYC, FATCA and CRS. This service has over 22 installations in Iraq.
It is estimated to take four months to get the integrated solution live.
Capital Banking Solutions sales director George Ghaoui said, “We are thrilled to support UR Islamic Bank to protect its daily compliance operation, from onboarding to KYC Acceptance, transaction monitoring, names screening against sanction lists, tax evasion, detecting suspicious activity and managing investigations.”
Capital Banking Solutions is an end-to-end banking platform that provides banks with the tools to digitise and improve their services.
Copyright © 2018 RegTech Analyst