Tanzania – Sep 07, 2019. Pio-Tech the leading provider of Banking Business Intelligence and Performance Management Solutions in the Middle East and East Africa announces the successful completion of Bank-BI® AML project, which went live recently at People’s Bank of Zanzibar.

Launching Pio-Tech Bank-BI® AML (Anti-Money-Laundering Compliance Solution) at PBZ bank has provided them with a holistic view of the bank’s compliance process; through monitoring customers and transactions using pre-defined scenarios, and scanning historical data, transactions, and watch-lists. Hence, identifying money laundering activities, and maintain compliant with regulatory requirements. Besides, helping compliance officers adapt to the changing regulations efficiently.

The Acting Managing Director at The People’s Bank of Zanzibar, Mrs. Khadija S Mzee, said “The solution has automated a lot of compliance team manual activities, enabled efficient due diligence process, and better decision-making. Additionally, the bank benefited from this solution in building its relationship with customers following the standards and controls recognized globally”
About Pio-Tech is a System Integrator and Business Solutions’ provider that has become, since conception in 2003, an innovation hub that advocates digitization and futurism across the Middle East and Africa Regions. In addition to its long history of serving the banking industry, was approached by a number of representatives from local and regional banks at the conference that reflected on their interest in such mission-critical technological advancements.

About The People’s Bank of Zanzibar is a commercial bank that was founded in 1966. It provides expert financial advice to both individuals and businesses.