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JMR Infotech rebuilds Abay Bank’s financial crime defences

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JMR Infotech rebuilds Abay Bank’s financial crime defences

JMR Infotech, a worldwide supplier of banking technology and digital transformation services, has completed a compliance platform upgrade for Ethiopian lender Abay Bank.

According to Finextra, the project embeds financial crime screening directly into the bank’s core banking processes, so risk is assessed before a customer relationship begins.

The project moved Abay Bank’s Oracle Financial Services Analytical Applications (OFSAA) Financial Crime and Compliance Management platform from version 8.0.8 to 8.1.2.10 and connected it with Oracle FLEXCUBE Core Banking.

Customer screening, Know Your Customer (KYC) checks and transaction filtering now sit inside the bank’s everyday banking workflows. As a result, prospective clients can be screened before they are onboarded, giving the bank stronger due diligence from the first point of contact.

The deployment spans a broad set of OFSAA tools, covering anti-money laundering, KYC, customer screening, transaction filtering and case management. Together, these support due diligence, transaction controls, data quality and compliance analytics throughout the organisation.

Scale is a central factor. Abay Bank serves upwards of 5.5 million customers across more than 1,000 branches and handles over 200,000 transactions each day, so its compliance tools must perform dependably under heavy volumes. The new platform helps compliance staff work through alerts and handle cases without interrupting essential processes.

As part of the transition, JMR Infotech transferred the bank’s existing business and transaction records, alerts, KYC assessments and compliance cases onto the new system, keeping investigation histories intact. The firm also improved batch automation and data extraction, raising processing efficiency and supporting anti-money laundering work.


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