Pak Oman Microfinance Bank Limited Pakistan has selected BenchMatrix Private Limited for the implementation of RiskNucleus® Anti Money laundering Solution (Transaction Monitoring Module).
This comprehensive solution will help automate both batch based and real time transaction monitoring, which will enable the bank to protect themselves from legal, regulatory and reputational risks arising from Money Laundering, Terrorist Financing & Proliferation Financing.
Transaction Monitoring Module will let AML Analysts review alerts generated through the Scenario Manager. The module will also provide information related to specific alerts to enable the users to quickly investigate and take action, they will also be able to attach documentary evidence and justifications provided. Additionally, all activities can be processed through configurable work flows to ensure adequate review.
Pak Oman Microfinance Bank Limited (the Bank) was incorporated on 9th March 2006 as a public limited company under Companies Ordinance,1984 (Repeated with enactment of the Companies Act, 2017 on May 30, 2017) and was granted license by the State Bank of Pakistan (SBP) on 12th April 2006. The bank has 67 branches and services centers in operations in all provinces of Pakistan, other than Gilgit Baltistan, including the Federal Capital Islamabad and is licensed to operate nationwide.
BenchMatrix is a leading advisory services and automated Governance, Risk & Compliance (GRC) technology provider with a focus on developing practical and effective solutions for organizations. The team has several full cycle implementation experiences in multinational organizations with success stories in France, Romania, Canada, Malta, Turkey, Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, Pakistan, Algeria, and Tunisia.