Compliance
As a result of its many years of experience and top expertise in the field of business compliance, Net.Bit can offer SPPFT program development services.
Our Solutions
Net.Bit Value-Add to Siron
Net.Bit is delivery, integration and support partner of FICO Tonbeller’s Siron solutions. Based on the Siron product family, we develop and implement standardized and individual solutions against financial and white-collar crime and for risk management and monitoring, analysis, and reporting.
Anti-Money Laundering (AML)
According to the regulations, financial organizations are required to develop and implement programs for AML that should correspond with international and domestic regulatory framework.
KYC
Integrated risk assessment for new and existing customers
According to the international regulations, banks are required to collect accurate data on the individuals and legal entities including their authorized persons in order to assess the risk level of the client. The bank must refuse to cooperate with high-risk customers.
Embargo
Siron® Embargo is a software for identifying people and organizations who are subject to sanctions.
The prevention of the financing of terrorist organizations is an additional responsibility of banks in compliance with AML regulation.
RAS
Siron RAS – Risk Assessment and Risk Management for AML
SironRAS is a tool that helps the banks to create and further develop their risk analysis. Identification, categorization and AML risks assessment is a base for every further bank activities for creation of AML programs.
FATCA
The financial institutions worldwide are all affected by the obligation for compliance with the US Foreign Account Tax Compliance Act – FATCA.
Report Generator
Report Generator for SironAML® is a software application developed by Net.Bit’s software team for custom reporting from the SironAML® database, as required by the national regulations.
Managed Services for Siron• Compliance Solutions
Managed Services for Siron® Compliance Solutions include the operation, administration, and maintenance of FICO Siron systems, focusing on typical Business activities for FICO’5 Siron AML, KYC, Real-time transaction monitoring (Embargo) and other products.
Our Partner IMTF
Our Partner XTN Cognitive Security
Factsheets
Siron EMBARGO
Combating the financing of terrorism is no longer exclusively the job of national security authorities, the police and the military, but is becoming increasingly important in the processes of banks, insurance companies and industrial
CRS
The Foreign Account Tax Compliance Act (FATCA) requires foreign financial institutions to report U.S. account holders with foreign assets, and comply with the Intergovernmental Agreements (IGA) or register with the U.S. tax authority (IRS) directly.
Anti-Money Laundering (AML)
Compliance departments often struggle with two challenges: they face enormous pressure to reduce costs while simultaneously facing the need to fully comply with the regulatory requirements to combat money laundering.Siron®AML
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