Pio-Tech, the leading provider of Banking Business Intelligence and Performance Management Solutions in the Middle East and Africa signed an agreement with Shamal Islamic Bank of Sudan by the Deputy General Manager Kamal E. Attayeb to implement Bank-BI® AML (Anti-Money-Laundry Solution) and Bank-BI® FATCA to be amongst the Sudanese Banks complying with the Foreign Account Tax Compliance Act (FATCA) regulations of the US Internal Revenue Service (IRS)
Pio-Tech’s Bank-BI® FATCA Compliance solution combines the tools, technology to help banks to comply with IRS’s FATCA regulations thought preparing reports according to the requested format, in an automated process with minimum efforts from users.
Furthermore, Bank-BI® AML (Anti-Money-Laundry Solution) helps banks analyzing the prediction of risk and track any suspicious money-laundering transaction according to rules and regulations, in addition, the system sends alerts to users for any suspected transaction, which minimizes user’s effort and time.
Commenting on the agreement, Salah Mohammad Abdel Rahim the General Manager at Bank Al-Shamal said “This step is only the beginning of our technology formation journey, we are aiming to develop our technologies in all departments to enhance our performance and increase revenue. In the past our employees used to put lots of effort and time using the traditional AML system, when compared to Pio-Tech’s solution, that will speed up our operations and enhance our employee’s performance, this system can email alerts and notify the users about any suspected transaction according to rules and regulations.
Mr. Jamal Dweik the Associate Director at Pio-Tech said “we are currently engaged in many projects worldwide- in Middle East, Africa and Asia – and we have branches in Kenya, Egypt, Palestine, Iraq, and Lebanon. We have more than 15 years of experience and helped over 100 banks in the field of technology and Business Intelligence Solutions. This is our first partnership signed with a Sudanese bank to implement a Bank-BI® AML and FATCA Compliance Solution.