FircoSoft, the leading global provider of watch list filtering solutions, announced today that Nationwide is live with its real-time transaction filtering solution, Firco Continuity to eliminate the risk of processing illegal transactions.
Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and person loans. Nationwide has approximately 15 million members.
Nationwide is now live with FircoSoft's Firco Continuity solution providing real-time payment filtering to ensure sanctions and embargoes compliance. Prior to selecting Firco Continuity, Nationwide utilized an external service for transaction filtering and chose to move compliance controls in-house in order to achieve a greater degree of control over the filtering process.
"We are very pleased with the selection and subsequent deployment of FircoSoft's market leading solution, Firco Continuity. With its best-of-breed solution and reputation, and proven reference sites in the UK and globally, FircoSoft was the clear choice over the other vendors we evaluated," said Paul Horlock, Head of Payments & Service Strategy in Nationwide. "As the largest Building Society, we needed a solution that could scale as we grow our member base. Firco Continuity's ability to manage volumes in real time was another strong factor to impact our choice. We have also been very pleased with the smooth, high-quality implementation and strong expertise of the Firco team."
"We are delighted to add Nationwide to our growing customer base in the UK with this most recent implementation by our London-based professional services team," said France Pioger, Executive Vice President - Acquisitions & Strategic Projects of FircoSoft. "Our local presence, robust solution and strong experience in sanctions compliance aligned very well with Nationwide's requirements for utilizing a solution to ensure the best regulatory and reputational protection."