Emirates NBD is working with GSS to help make its compliance with sanctions and banking operations smoother and more effective across the Middle East and North Africa.

Emirates NBD has partnered with Global Screening Services (GSS) to use the latest technology to help prevent money laundering in the MENAT region. The announcement was made at the Dubai FinTech Summit by top representatives from both companies, who discussed a new platform for checking sanctions that aims to help businesses follow the rules more easily.

This partnership is a big part of the ongoing, several years-long cooperation between Emirates NBD, GSS, and many other banks from all over the world. GSS’s RegTech platform uses shared information and smart updates to help banks find risks more accurately and stay up-to-date with regular changes in rules. By building strong resilience into how the platform works, it helps meet new standards like ISO 20022, making payments safer and faster for everyone in the financial world.

Victor Matafonov, Group Chief Compliance Officer at Emirates NBD, said the bank is working on using new technology to improve its compliance rules. “We search for partners who help us get better at managing risks and running our business,” he said, highlighting how Emirates NBD stays at the forefront of compliance and new bank technology.

Neeraj Makin, Group Head of Strategy at Emirates NBD, said that this partnership was meant to make sure the bank can better spot and block transactions that might break rules. The Emirates NBD Innovation Fund is also looking to invest in GSS, which shows just how important new technology for regulations is becoming in the finance world.

Tom Scampion, CEO of GSS, said joining forces with Terras is a great step toward helping banks avoid breaking rules and serve their customers faster and more accurately in the MENAT region.