FircoSoft, the leading global provider of watch list fi ltering solutions, announced today that 105 Bank has selected Oculus, NTTDG screening solution dedicated to the Japanese market embedding FircoSoft’s Firco Trust fi lters, to ensure regulatory compliance and prevent the risk of doing business with risky customers or counterparties.
105 Bank, a major regional bank based in Japan, will be using Firco Trust fi lters for monitoring its 2.7 million customers on an ongoing basis and for thousands of ad-hoc queries daily. The solution will be using several watch lists including the Frozen accounts’ owners list (corporate bodies and individuals), the JBA list, and four internal lists. Firco Trust fi lters are embedded in partner NTT DATA Getronics (NTTDG)’s Oculus screening solution for the Japanese market. NTTDG is a FircoSoft Value Added Reseller (VAR), serving numerous fi nancial institutions in Japan.
“We are very pleased to have selected FircoSoft’s and NTTDG’s combined screening solution to detect individuals that are subject to economic sanctions. It will improve our Know Your Customer (KYC) and Enhanced Due Diligence (EDD) controls and help us meet regulatory requirements,” said Kishida Hideyuki, Compliance Department of 105 Bank. “The reputation and performance of their solution, including fuzzy matching and alphabet fi ltering, as well as their ability to fi lter large volumes of data, made FircoSoft and NTTDG the right choice for 105 Bank.”
“We are delighted to add 105 Bank as a new customer to our growing customer base together with our long-time partner NTTDG, helping Japanese fi nancial institutions meet stricter regulatory requirements related to anti-terrorist financing controls,” said Florence Vicentini, Alliances Head of Operations of FircoSoft. “With solutions that operate in over 85 countries, meeting local requirements is paramount. For the Japanese market, we address specifi c challenges ensuring our solutions can manage large volumes, are multi-alphabet ready, support transliteration, and enable the fi ltering of data in Katakana, Hiragana and Kanji characters.”
Firco Trust provides confi gurable high-performance and enterprise-level customer and entity screening, designed for complex infrastructures and requirements. Over 180 customers worldwide benefi t from the Firco Trust Solution. Firco Trust combines fi ltering intelligence with high performance processing capabilities. With Firco Trust, users can implement Know Your Customers (KYC) programs by fi ltering existing and new customers, counterparts or benefi ciaries against any sanctions, PEPs or negative news list in batch, real-time or on-demand.