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Capital Bank of Jordan Selects EastNets Anti-Money Laundering Solutions

EastNets, a leading provider of global compliance and payment solutions and services, has announced that it has signed an agreement with Capital Bank of Jordan to provide watchlist filtering and anti-money laundering control solutions (en.SafeWatch Filtering and en.SafeWatch Profiling). The agreement was signed on July 1, 2010, during a ceremony held at the Four Seasons Hotel in Amman.

Haytham Kamhiyah, General Manager, Capital Bank, said: "We decided to develop our current systems by adopting a new solution which is able to keep pace with developments taking place in the area of compliance, and is in line with the requirements of the Monetary Authority, while complementing the relationship between the banks internally and externally. This move is in line with the efforts of the financial and banking sectors, and is in tune with the developments in the banking industry and global taxonomy standards which are associated with the provision of preventive measures. We are confident that the excellent track record of EastNets and its expertise in the field of anti-money laundering solutions will enable us to meet the needs in this area in order to protect our customers and the economy as a whole.”

“We are pleased with Capital Bank of Jordan’s selection of our en.SafeWatch Filtering and en.SafeWatch Profiling solutions,” said Hazem Mulhim, CEO, EastNets. “With this agreement, Capital Bank of Jordan is taking a vital step towards promoting and developing risk protection against money laundering and to address tightened regulatory controls.”

Fahed Abu-Hijleh, Managing Director, EastNets Jordan, said: "Our partnership with Capital Bank of Jordan reaffirms our strong reputation as a leading provider of reliable and secure financial solutions in Jordan. We will build on our growing portfolio of high-profile clients to further expand and strengthen our share in Jordan's financial market."

Under the terms of the agreement, EastNets will commence implementation of many effective solutions immediately, including en.SafeWatch Filtering – which provides real-time blocking; supports all lists including US Office of Foreign Assets and Control (OFAC) and PEP; provides NACHA IAT screening support; and is SWIFT-certified.

en.SafeWatch Profiling, which is also being deployed as part of the agreement, provides customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting.

EastNets en.SafeWatch Filtering solution was ranked by the Celent analyst firm as a leading watch list filtering solution, used today by over 360 customers in 80 countries.