Accuity safely acquires Safe Banking Systems
Accuity has acquired US-based Safe Banking Systems (SBS) – giving it know your customer (KYC) and anti-money laundering (AML) solutions.
According to Accuity, SBS’s solutions perform false positive reduction and risk assessment in the account screening process across a number of sectors, including banks and non-bank financial institutions.
Hugh M. Jones IV, Accuity president and CEO, says SBS “shares Accuity’s ambition to be a trusted partner to clients, protecting their reputations and transforming the way they manage risk”.
The SBS team will also be used to “strengthen” its Fircosoft solutions.
Accuity, part of RELX Group, offers data and software that manage risk and compliance, and tools used in payments pathways through its Fircosoft, Bankers Almanac and NRS brands.
The firm explains that SBS is already a long-standing partner of its Fircosoft business, using the Fircosoft filter in its solutions. Accuity and SBS also share mutual customers.
SBS has approximately 50 employees and is based in Mineola, New York. There were no details as to whether all of them will be joining Accuity.
Financial details were not disclosed. Maybe they didn’t think it was safe to do so.