First Iraqi Bank successfully deploys Bank-BI® AML & RBA from Pio-Tech

First Iraqi Bank (FBI) started a new era of effective financial crimes prevention processes, through the successful deployment of both Bank-BI® AML & Bank-BI® RPA from Pio-Tech.

Jordan – Iraq, November 2021. First Iraqi Bank (FIB), the newly established fully digital bank in Iraq, has successfully went live on both Bank-BI® AML (Anti-Money-Laundering) and Bank-BI® RBA (Risk-Based Approach) solutions from Pio-Tech, the leading company in digital transformation and business acceleration for the banking industry across the Middle East & the African Continent.

Bank-BI® AML will grant FIB the ability to confront all styles of money laundering, through consistent track and analysis of all types of financial transactions, based on dynamic predefined scenarios, raising instant alerts of any detected suspicious financial scenario for necessary investigations and effective due diligence, leading to enhance, optimize and accelerate AML processes.

Moreover, Bank-BI® RBA, will enable the bank’s compliance officers to perform a fact-based customers’ risk classification throughout fully automated dynamic mechanism that analyzes the customers’ financial patterns and utilizes the due diligence outcomes of any related suspected cases, which contributes to providing a realistic view of customers, along with enhancing the accuracy of related regulatory reports.

About FIB

First Iraqi Bank, a fully digitalized bank established to serve customers within the Iraq market; FIB started its operations in 2020, focusing to empower the customers by guiding them into tomorrow, today. FIB offers everything a traditional bank offers, and is more, compliant with Islamic banking standards.

To learn more, please visit www.fib.iq

About Pio-Tech

Pio-Tech is one of the leading companies in creating and developing innovative and comprehensive digital transformation solutions that dedicated to serving the banking sector, which was built in line with the latest banking practices, using the most contemporary advanced technologies.

Since its establishment in 2003, Pio-Tech has been distinguished by providing a set of qualitative banking solutions that have significantly contributed to optimizing various internal operations, in addition to improving the efficiency of strategic decision-making, which led to business growth for more than 80 clients from the banking sector within 22 countries across the Middle East and the African continent.

Crowned with an exceptional mix of banking & technical experiences, Pio-Tech offers a wide range of digital-modules suites that cover various key banking functions such as Service Points, Credit, Finance, Risk and Compliance, which are fully compatible with both Conventional and Islamic banking schemes, while complying with all Local & International Standards.

To learn more, please visit www.pio-tech.com.