FNB in Lebanon Centralizes Compliance Systems with FICO TONBELLER Anti-Financial Crime Suite

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Customer Development

LONDON — October 25, 2018


  • First National Bank of Lebanon has migrated to the FICO® TONBELLER Siron Anti Financial Crimes Suite to enhance its AML/CTF (anti-money laundering/counter-terrorism financing), KYC (know your customer), and tax regulations systems
  • First National Bank S.A.L. (FNB) is among the leading banking institutions operating in Lebanon

First National Bank (FNB) of Lebanon has migrated to the FICO® TONBELLER Siron Anti Financial Crimes Suite to take a more holistic, integrated approach to compliance with AML/CTF (anti-money laundering/counter-terrorism financing), KYC (know your customer) and tax regulations.

More information: https://www.fico.com/en/risk-compliance/tonbeller

FNB will use the FICO solution to detect money laundering, terrorist financing and other financial crimes, and report suspected cases to the country’s financial intelligence unit, the Lebanese Special Investigation Commission. FNB will also use the Siron Tax Compliance Reporting module to meet the reporting standards for Foreign Account Tax Compliance Act (FATCA) in the US and the global Common Reporting Standard (CRS), CRS, developed by the Organization for Economic Cooperation and Development.

“Even in the compliance area, our customers’ satisfaction is paramount,” said Elias Baz, general manager of FNB. “When we decided to change compliance solutions to improve efficiency and customer service, we talked to both local and global providers. The FICO solution was the most flexible, powerful and customizable platform on the market. No other provider offered us a platform with this breadth and depth of functionality: from customer risk classification and transaction screening to tax reporting, including risk and compliance cockpits for governance.”

“FNB is among the banks recognizing that there are big gains to be made from using one system for compliance, rather than a patchwork of products,” said Torsten Mayer, vice president for compliance solutions at FICO. “Some providers even offer different systems for FATCA and CRS compliance — this is the wrong approach. By centralizing compliance with one system, FNB can enhance detecting criminal activity, serving customers and reporting to multiple agencies.”

FICO offers the TONBELLER Siron™ Anti-Financial Crime Solutions suite on-premises and on AWS, as part of its FICO® Analytic Cloud offerings. Earlier this year, the FICO TONBELLER Siron AML and KYC solutions achieved Amazon Web Services (AWS) Financial Services Competency status. This designation recognizes FICO for delivering robust solutions on the AWS Cloud to help organizations manage critical issues pertaining to the industry, such as risk management, data management, navigating compliance requirements and establishing governance models.

First National Bank S.A.L. (FNB) is among the leading banking institutions operating in Lebanon, classified among the alpha group banks, with a nationwide network of 27 branches and 16 standalone ATM’s covering major areas in Lebanon. Founded in 1994, FNB conducts commercial, retail, finance, and investment banking activities throughout the Middle East by offering a wide range of innovative products and tailor-made banking services. More information is at www.fnb.com.lb.

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 180 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, 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 https://www.fico.com

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

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