The announcement was made by analytic software company FICO and its partner in Russia and the Commonwealth of Independent States, RDTEX. The bank will use the FICO TONBELLER Siron modules for customer behaviour and transaction monitoring (Siron AML), for screening and risk rating its customers (Siron KYC), and for real-time transaction screening (Siron Embargo) to minimise compliance risks.
The software will allow the bank to build different scenarios and filters including defined thresholds, keywords and criteria. The bank conducted a five-month review of the market, assessing all the major compliance automation products against business requirements, and visiting a number of reference customers.
The International Bank of Azerbaijan (IBA) is the largest financial institution both in the Republic of Azerbaijan and the Caucasus region. The bank has a diversified branch network across the country, which consists of 36 branches and 38 sub-branches.
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