Counter-Terrorism Financing

Real-time Sanctions Screening with Siron®

Overview

Sanctions screening & watch list filtering

Increased national and international regulations for payment services, are designed to fight the funding of terrorism. This regulatory burden effects processes for banks, insurance companies, and organizations from the industrial, trade and services sector. Trading with sanctioned persons or organizations is a criminal offence that can result in prosecution, high fines, and loss of reputation. FICO TONBELLER´s sanctions screening software helps obliged entities to mitigate the risk of being misused and meet the requirements of global counter-terrorism financing.

Solution Architecture

Effective sanctions screening

FICO TONBELLER's sanctions screening solution accurately checks customers and transactions for ties to terrorism and significantly minimizes false positives. Business partners and existing customers are continually matched with latest sanction lists. New customers are checked using dynamic KYC questionnaires during onboarding. The sanctions screening system integrates simply and safely with the payment process and automatically blocks suspicious transactions matching watch lists. Risk cockpits grant an up-to-date overview of all compliance and sanctions screening activities.

Customers

Available Products

FICO® TONBELLER Siron® KYC

Product overview

Siron® KYC is an end-to-end solution for managing KYC compliance throughout the customer relationship life cycle. It supports the risk classification process of new and existing customers, including audit-proof documentation. Siron® KYC utilizes third-party databases with ready-to-use interfaces to match customer information with sanction and watch lists, and to automatically identify beneficial owners and politically exposed persons (PEPs).

Product overview

Siron® KYC is an end-to-end solution for managing KYC compliance throughout the customer relationship life cycle. It supports the risk classification process of new and existing customers, including audit-proof documentation. Siron® KYC utilizes third-party databases with ready-to-use interfaces to match customer information with sanction and watch lists, and to automatically identify beneficial owners and politically exposed persons (PEPs).

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

Ecobank

Established in 1985 with the headquarters in Lome, 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 was hardly any commercial bank owned and managed by the African private sector. ETI was founded with the objective of filing 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.