FircoSoft, the leading global provider of watch list filtering solutions and its partner for the Middle-East and Africa, Allied Engineering Group (AEG), announced today that Barwa Bank has deployed the latest version of Firco Continuity in order to boost its sanctions compliance controls.
Barwa Bank, Qatar's fastest growing Shari'ah compliant banking service provider, licensed and regulated by the Qatar Central bank, was using Firco Continuity for SWIFT Alliance Access (SAA) since 2009 and made the decision to expand its terrorist financing and sanctions controls by deploying the new web-based application enabling compliance officers to make decisions on alerts outside of the SAA platform, while significantly improving workflow, productivity and reporting capability.
"We are very pleased with the new Firco Continuity Verify Web solution. It was the perfect choice as it met all our requirements for adding new capabilities to improve our compliance operations," said Thamer Abdulla, Chief Compliance Officer, Compliance Department, at Barwa Bank. "This solution enables us to improve usability, performance and workflow, and ease the ongoing maintenance of the solution. Since deploying the new solution and capability, we have increased our productivity as compliance officers can now make decisions in a faster and easier way."
"FircoSoft is delighted to help Barwa Bank, together with our partner AEG, to improve and boost its sanctions compliance controls with our latest Firco Continuity Verify Web. This implementation has been a real success thanks to our partner AEG who deployed FircoSoft reliable solution and managed the whole project from the installation to training," said Christophe Destephen, Key Account Manager at FircoSoft. "With this solution, Barwa Bank now benefits from added features and better efficiencies to improve their overall experience and decision making speed."