Nationwide, a UK-based mortgage, current accounts, credit cards and person loans provider, has deployed Firco Contiuity, a real-time transaction filtering solution developed by FircoSoft, to fight against illegal transactions.
With Firco Continuity, Nationwide can ensure sanctions and embargoes compliance for its real-time transactions.
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Before deploying Firco solution, Nationwide depended on external service for transaction filtering and moved compliance controls in-house to control filtering process.
Nationwide payments & service strategy head Paul Horlock said with its best-of-breed solution and reputation, and proven reference sites in the UK and globally, FircoSoft was the clear choice over the other vendors they evaluated.
"As the largest Building Society, we needed a solution that could scale as we grow our member base. Firco Continuity’s ability to manage volumes in real time was another strong factor to impact our choice," Horlock added.
FircoSoft acquisitions & strategic projects executive vice president France Pioger said they are pleased to add Nationwide to their growing customer base in the UK with this most recent implementation by their London-based professional services team.
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By GlobalData"Our local presence, robust solution and strong experience in sanctions compliance aligned very well with Nationwide’s requirements for utilizing a solution to ensure the best regulatory and reputational protection," Pioger added.
