Estonia’s Bigbank AS has collaborated with Accuity to streamline its account and payments screening processes and help it better identity financial crime risk, highlight potential sanction breaches and flag high-risk customers.

The new solution from risk software firm Accuity allows for more robust customer screening and the strengthening of existing ‘know your customer’ measures that are currently in place across the business. The Firco Compliance Link solution provides automated account and transaction screening with consolidated reviews and a full audit trail.

Alar Kondratjev, head of operations security and control unit at Bigbank AS, said: “Our customers remain central to everything we do. It is important that we are constantly improving our processes to enhance our customers’ experience. Firco Compliance Link helps to further support the digitalisation and automation of our bank processes.”

Tom Golding, executive vice president at Accuity, added: “International regulations continue to focus on combatting financial crime and preventing the funding of terrorism through increased compliance requirements that banks now have to adhere to. At the same time, customers are demanding faster payments, meaning banks now have a real need for speed.

“It’s great to see Bigbank improving its customers’ experience, whilst at the same time, protecting the bank from facilitating financial crime.”

Share Story: