Amsterdam, August 31, 2024 – Fynhaus has proudly signed a partnership agreement with the Iraqi Islamic Bank (IIB) for a comprehensive Anti-Money Laundering (AML) solution to be implemented during second half of 2024. In collaboration with Turnkey Systems, the FORTE™ solution of Fynhaus will further reinforce the strength of IIB in its combat against money laundering and terrorism financing.
The Iraqi Islamic Bank was founded in 1992 in Baghdad. Having multiple branches throughout the country, it provides services in both retail and corporate banking. One of the most financially resilient financial institutions in Iraq, it is equally committed for charity works. The FORTE™ solution adopted by IIB comprises KYC, risk-based analysis, sanction screening, transaction monitoring, case management and advanced reporting.
“This is an important new step for banking in Iraq in general and for Fynhaus”, says Jalal Haddad, Co-Founder and CMO of Fynhaus. “Since its start, IIB has always been an adopter of technology in banking, and this partnership between IIB and Fynhaus is a natural fit. We thank IIB for their trust, and we are honored to become a leading compliance solution provider in Iraq.”
Fynhaus is a banking solution innovator in regulatory compliance, payment messaging, and fraud detection. It has received the prestigious awards of RegTech100 in 2023, and FinCrimeTech50 in 2024, putting it in the top 50 regulatory compliance solutions innovators worldwide. Additionally, Fynhaus has been awarded the RegTech Africa Horizon100, for its contribution in the field of compliance in Africa.
“Our solutions rely on state-of-the-art continuous development, providing unmatched accuracy, and highly automated processes for maximum efficiency”, says Karim Sinno, Co-Founder and CTO of Fynhaus. “Our commitment to quality repeatedly outmatches competition, and our flexible integration capabilities allow our platform to be compatible with any existing core banking system, worldwide.”
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