Nanyang Commercial Bank Teams with Accuity and Lyodssoft to Improve its Financial Crime Compliance Screening Operations

The Hong Kong bank is automating its account and transaction screening technology to improve productivity and enhance reporting capabilities

Nanyang Commercial Bank (NCB) has selected Accuity, the leading global provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, and Lyodssoft, its implementation partner, to enhance the bank’s financial crime compliance screening capability. NCB aims to improve the efficiency of its compliance operations, making it easier to adhere to the regulatory requirements set by the Hong Kong Monetary Authority (HKMA).

The rapidly changing regulatory environment, increased scrutiny of regulators and auditors and high complexity of compliance operations have increased NCB’s need for visibility, efficiency and control over the full process of financial crime screening. NCB will be implementing Firco Continuity for transaction screening and Firco Trust for account screening, within the bank’s Corporate Trading Companies arm in Hong Kong.

Oskar Lau, Head of Requirement Management Division, Information Technology Department at NCB said, “We needed a more comprehensive solution to enhance our due diligence process, so that our business units could improve efficiency, while adapting to the increasingly complex regulatory environment. Leveraging the Accuity financial crime compliance screening solutions will enable us to streamline our process, and ensure we are protected from potential risks.”

The implementation of Firco Continuity will equip NCB with a robust system that screens transactions against a range of sanctions and regulatory watchlists in real-time. NCB will configure the system according to its unique risk profile, therefore reducing false positive matches, enabling faster straight through processing (STP), and keeping the cost of compliance to a minimum.

To complement this new transaction screening solution, the implementation of Firco Trust for account screening will enable NCB to conduct due diligence on its customer accounts more effectively. The system will screen both new and existing customers to flag potential risks, such as sanctions, politically exposed persons (PEPs), and negative news.

Franck Lanher, Vice President of Partnerships at Accuity said, “As regulators, such as the HKMA, act proactively to stamp out financial crime and raise compliance standards across the region, a growing number of banks and financial institutions are placing their trust in our solutions. As organisations like NCB implement screening systems and controls, they can better adapt to their individual risk appetite and the latest regulations.”

The Accuity solutions will be implemented locally by Lyodssoft, an Accuity partner based in Hong Kong.

Sunny Chik, Sales Director, Lyodssoft said, “Through its partnership with Lyodssoft and Accuity, NCB has not only been able to optimise its resource strength, for manual checking and oversight and increase the accuracy of screening tremendously, but also reduce the time and cost of KYC screening exponentially”


For more information, please contact:

Imogen Nash, Accuity
Tel: +44 (0) 2079111379

Prisita Menon, Cognito
Tel: +65 9856 4954

Notes to editors:

About Lyodssoft

Lyodssoft is a services and solution provider. Its products and services range from AML solutions, to data management technology from Sword Group. Lyodssoft has a strong development capability and meets customers’ requirements by providing a variety of software solutions.

Lyodssoft has been a Fircosoft portfolio partner since 2002.

About Nanyang Commercial Bank (NCB)

Nanyang Commercial Bank, Limited (“NCB”), commenced business in Hong Kong on 14 December 1949. NCB has cherished the spirit of “Customer-Oriented and Courteous Service” and upheld the principle of “Reputation First and Service-Driven”. While establishing a strong foothold in Hong Kong with the support of the Motherland, NCB has taken on the mission to look globally and serve customers around the world.

About Accuity

Accuity offers a suite of innovative solutions for payments and compliance professionals, from comprehensive data and software that manage risk and compliance, to flexible tools that optimise payments pathways. With deep expertise and industry-leading data-enabled solutions from the Fircosoft, Bankers Almanac and NRS brands, our portfolio delivers protection for individual and organisational reputations.

Part of RELX Group, a global provider of information and analytics for professional and business customers across industries, Accuity has been delivering solutions to banks and businesses worldwide for 180 years.

About the Fircosoft portfolio of solutions

As illegal financial activities have increased around the globe, so has the danger to the reputations of payments and compliance professionals. The Fircosoft portfolio of innovative data-enabled technology solutions, delivered through a high-touch consultative partnership, helps these professionals manage risk and avoid damage to the good names of individuals and organisations.

Fircosoft’s pioneering sanctions screening and data solutions set the standard for the industry, and our trade compliance expertise is unmatched. Fircosoft’s innovative software is so powerful, it’s deployed by nine of the world’s top ten banks— yet it can be scaled to meet the specific needs of any organisation.

Media Contacts

For more information, please contact:

Imogen Nash, Accuity
Tel: +44 (0) 2079111379

Prisita Menon, Cognito
Tel: +65 9856 4954