CIB and SAS Partnership/CIB
The deployment of risk and anti-money laundering system ensures proper identification of unusual transactions as well as activities.
Tuesday 26, February 2019
Egypt’s Commercial International Bank (CIB) has collaborated with SAS to instal the latest technologies in enterprise risk management (ERM) and anti-money laundering (AML).
In a statement, the lender sated that the partnership with SAS emphasises the CIB’s commitment to streamline its risk management processes and adhere to local regulations as well as global standards with regards to advanced analytical monitoring and an adequate control framework.
The use of enterprise risk management solution ensures that the bank is applying global techniques and standards in tracking its various risk types, including operational risk, market risk, as well as credit risk.
Additionally, it also provides all the needed business intelligence and simulation mechanisms to empower timely and data insight driven decisions.
Abla Khairy, the Chief Compliance Officer at CIB, said, “With the deployment of this solution, we believe that the implementation of the SAS AML engine will guarantee proper management of compliance and apply a risk based approach which will assist to safeguard the bank’s reputation as well as avoid any adverse actions of non-compliance.”
SAS AML solution will support CIB to meet regulatory requirements leveraging advanced analytical algorithms and machine learning techniques.