FICO® TONBELLER® Siron® Embargo

Real-time Transaction Screening to Prevent the Financing of Terrorism

Overview

Certified transaction screening solution

To disrupt terrorist funding, Siron® Embargo screens transactions in real-time by matching sender and recipient data with sanction lists. Numerous national and international sanction lists are used, including:

  • US Department of the Treasury: Office of Foreign Assets Control (OFAC)
  • EU Common Foreign Security Policy (CFSP)
  • Her Majesty‘s Treasury (HMT)
  • United Nations 1267 Committee's Consolidated List

Transactions with alerts that are triggered by a match with an entry in a sanction list are "frozen" by the system. Transactions without alerts are released immediately and returned to the payment flow. The transaction screening system logs all checks, steps, and decisions for each suspicious activity in an audit-proof manner.

Core Benefits

Increases accuracy while saving time and money

Stay compliant and safeguard the enterprise

Certified solution

Increases accuracy while saving time and money

Minimizes false positives by utilizing sophisticated algorithms and reduces the compliance officer’s workload.

Stay compliant and safeguard the enterprise

Ensures compliance with international sanctions and the latest embargos in order to safeguard the enterprise.

Certified solution

SWIFT Certified Application label guarantees compliance with all SWIFT standards and connectivity with the SWIFT payment-transaction format.

Solution Architecture

Using advanced algorithms for transaction screening

Easily adaptable business rules in Siron® Embargo enable enterprises to design a thorough efficient transaction screening process based on individual requirements. These rules may be applied to threshold definitions or automatic predefined actions before and after verifying a sanction list. The transaction screening system uses advanced algorithms that detect inverted parts of names, abbreviations, substitutions, different notations or deletions.

Customers

It's not just who we work with, it's how well we work together.

Key Features

  • Real-time matching of all recipient and sender data against national and international watch lists
  • Processes SWIFT, non-SWIFT, and SEPA payments
  • Extensive search routines and sophisticated matching to identify terrorist related transactions
  • White lists and custom check rules to reduce due diligence costs for transaction screening
  • No IT knowledge required to specify settings and rules for watch list filtering

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Ecobank thinks global and acts local with a unique implementation of Siron®

Ecobank

Established in 1985 and with headquarters in Lomé, Togo, the dual objective of Ecobank Transnational Incorporated (ETI) is to build a world-class pan-African bank and to contribute to the economic and financial integration and development of the African continent. In the early 1980s the banking industry in West Africa was dominated by foreign and state-owned banks. There were hardly any commercial banks owned and managed by the African private sector. ETI was founded with the objective of filling this vacuum. With assets of $22.5 billion at the close of financial year 2013, Ecobank is now represented in 40 countries worldwide, including 36 African nations. With nearly 20,000 employees it is the largest employer in the financial sector in Middle Africa.