Kuwait Finance House, based in the city of Manama in Bahrain and one of the leading financial institution in the Middle-East is also recognised as a pioneer in the Islamic Finance and Shari’a compliant banking products and services. Fighting financial crime and terrorist financing is a key challenge for every financial institution around the globe and it is no difference in the Middle-East.

In the context of growing awareness towards anti-money laundering and anti-terrorist financing regulations in this region, Kuwait Finance House dropped its former filtering solution to replace it by Sword FircoSoft’s efficient filtering technology to better protect against financial crime and prevent from processing illegal transactions. This contract has been signed through Allied Engineering Group, SWIFT Business Partner for the Middle-East and North Africa region and Sword FircoSoft’s partner in the Middle-East.

Kuwait Finance House selected Firco Continuity for SWIFTAlliance Access, Firco Filtering Suite’s product to filter in real time their SWIFT transactions against OFAC, EURO and United Nations lists in English. The system went live after five days implementation and has been fully integrated into the bank’s SWIFT system.

Sword FircoSoft’s partnership with AEG since 2006 has proved very fruitful throughout the years, achieving a great development of Sword FircoSoft’s watchlist filtering solution in the Middle-East area and a high-quality maintenance by AEG to their customers. Firco Filtering Suite has become one of the leading filtering solutions in the region, totalizing thirty customers in the Middle-East and Africa. Firco Filtering Suite is multi-alphabet ready and handles Arabic characters, this remains a key advantage to integrate and grow on this market.

About Allied Engineering Group

Allied Engineering Group (AEG) was established in 1993 in Lebanon, and expanded to open branches in Bahrain, Algeria, Egypt, Iran, Iraq, and soon in Cyprus and Ivory Coast. AEG offers software applications products and high-quality IT consultancy services to financial institutions and has been a SWIFT Service Partner and SWIFT Business Partner since 1997.

About Sword FircoSoft
Over 335 financial institutions in more than 55 countries (representing over 650 sites) are already benefiting from the #1 watch list filtering solution* provided by Sword FircoSoft. 

Sword FircoSoft, provider of multi-alphabet ready filtering solutions, also offers best-in-class straight through processing and business intelligence solutions.

* ranking by Celent since 2003