Capital Bank of Jordan has signed an agreement with EastNets, a provider of compliance and payment solutions and services, to deploy EastNets' watchlist filtering and anti-money laundering control solutions (en.SafeWatch Filtering and en.SafeWatch Profiling).
Under the terms of the agreement, EastNets will start implementation of effective solutions immediately, including en.SafeWatch Filtering which provides real-time blocking; supports all lists including US Office of Foreign Assets and Control (OFAC) and PEP; National Automated Clearing House Association International ACH Transactions (NACHA IAT) screening support; and is Swift-certified.
According to the EastNets, en.SafeWatch Profiling provides customer and account monitoring and profiling, risk scoring, peer group analysis, case management and regulatory reporting.
Haytham Kamhiyah, general manager of Capital Bank, said: “We decided to develop our current systems by adopting a new solution which is able to keep pace with developments taking place in the area of compliance, and is in line with the requirements of the Monetary Authority, while complementing the relationship between the banks internally and externally.”
Hazem Mulhim, CEO of EastNets, said: “With this agreement, Capital Bank of Jordan is taking a vital step towards promoting and developing risk protection against money laundering and to address tightened regulatory controls.”