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Belgazprombank Fights Financial Crime with FICO TONBELLER Sanctions Screening

October 2, 2018

Belgazprombank Fights Financial Crime with FICO TONBELLER Sanctions Screening

Customer Success October 2, 2018

LONDON — 2 October, 2018

Highlights:

  • Belgazprombank, a leading lender in Belarus, has implemented a system from FICO that screens financial transactions and customers in order to prevent financial crime
  • The system enables the bank to block financial transactions and freeze funds related to persons involved in terrorist activities
  • Belgazprombank met the new requirements of the legislation of the Republic of Belarus in a timely manner, and reduced the risks of non-compliance with international banking practices

Belgazprombank, a leading lender in Belarus, has implemented a system from FICO that screens financial transactions and customers in order to prevent financial crime. FICO® TONBELLER® Siron® Embargo checks banking applicants and individual transactions to ensure that the bank and its customers do not do business with individuals on restricted lists, such as those who are involved in terrorist activities, and manages the risk of working with politically exposed persons.

http://www.fico.com/en/risk-compliance/sanctions-screening

The system implemented by FICO partner RDTEX, with assistance from FICO consultants, enables the bank to comply with regulations by blocking financial transactions and freezing funds related to persons involved in terrorist activities. The bank will also use the system to manage financial transactions and work with individuals and public officials, in order to comply with international economic sanctions.

The implemented system includes two components, Siron® Embargo and Siron® KYC, and performs both online checks and retrospective analysis. Both components are built on a single database and share access to downloaded or created external and internal lists (National Bank lists, Dow Jones database, etc.). Information about high-risk customers is available to more accurately identify and analyze transactions.

"With the help of our partners, RDTEX and FICO, the bank quickly implemented two modules of the Siron suite, which allowed us to manage our work with various restrictive lists — including lists of public officials, sanctions lists, and lists of persons involved in terrorist activities — at a qualitatively different level,” said the executive director of Belgazprombank, Irina Kalechits. “Also, the system allows the bank to manage our own lists. We succeeded in meeting the new requirements of the legislation of the Republic of Belarus in a timely manner, and reduced the risks of non-compliance with international banking practices.”

“Regulators worldwide are focused on preventing the financing of financial crime,” said Torsten Mayer, vice president for compliance solutions at FICO. “We help Belgazprombank and other banks worldwide to keep up with new lists of high-risk persons and screen every transaction.”

FICO® TONBELLER® Siron® Embargo accurately checks customers and transactions for ties to terrorism and significantly minimizes false positives. Business partners and existing customers are continually matched with the 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.

About Belgazprombank

Belgazprombank is one of the fastest growing financial and lending institutions in the Republic of Belarus. The mission of Belgazprombank is to promote the formation and development of the middle class in the Republic of Belarus through the provision of client-oriented high-tech banking products and services, as well as the implementation of projects in the social and cultural sphere. www.belgazprombank.by

About RDTEX

RDTEX was founded in 1992 and more than 25 years has been implementing projects aimed at increasing the efficiency and competitiveness of its customers' businesses. RDTEX services include management consulting, development and implementation of information systems and technological consulting. RDTEX has successfully completed more than 500 projects, involving software products of the world's leading manufacturers and corporate software market leaders, including Oracle, ABBYY, FICO TONBELLER, Huawei, IBM, Informatica, Microsoft, SAS, Software AG and TmaxSoft.

About FICO

FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 185 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, manufacturing, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.

Learn more at www.fico.com.

https://twitter.com/fico & http://www.fico.com/en/blogs/

FICO, TONBELLER and Siron are registered trademarks of Fair Isaac Corporation in the US and other countries.

Emily Broadbent for FICO
Catalysis
+44 (0)20 7759 2017
fico@catalysis.co.uk

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