Sumitomo Mitsui Banking Corporation has selected NTT Data Getronics (NTTDG) and Firco Continuity to advance its operations across Japan and Southeast Asia.
Sumitomo Mitsui Banking Corporation (SMBC) has replaced SMBC’s previous solution for filtering SWIFT payment messages on behalf of its branches in Japan with Firco Continuity, a payments screening solution from Accuity. The sanctions screening solution by Accuity will strengthen the bank's ability to meet international regulatory requirements, by helping the bank to detect the risk of potential sanctions violations.
«We are confident the new solution’s false positive reduction capability will drive efficiency in our operations. Combined with NTTDG’s implementation expertise, this solution will enhance our ability to protect our organization and meet regulatory requirements, without compromising on performance,» said a representative from SMBC in a media statement.
Real-Time Filtering
The integration of Firco Continuity will equip SMBC with a fully automated screening system that is capable of filtering transactions in real-time, using the latest sanctions and trade embargo data sets.
«We are confident that our combined solution will allow for increased operational efficiency across SMBC’s branches in the region and reduce the cost of compliance for the bank. SMBC will be able to screen transactions efficiently, ensuring a seamless customer experience and ultimately protecting its reputation,” said Franck Lanher, Vice President of Partnerships at Accuity.
