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Accuity signs a new partnership with Union Systems Limited, strengthening its position in the Nigerian market

Accuity, the leading provider of financial crime compliance, payments and know-your-customer (KYC) solutions, announced today that it has signed a new partnership agreement with Union Systems Limited (USL), an information technology company supporting advanced software for leading banks and financial institutions in Nigeria, Ghana and Kenya. The partnership enables Accuity to add momentum to the growth of its business across the Nigerian market.

The new partnership between Accuity and USL will help banks based in Nigeria expand the scope and depth of their payment transaction screening and improve their customer on-boarding processes. USL will use its local knowledge and resources to provide market leading compliance solutions with implementation and support services to local financial institutions. These include Firco Continuity for transactions screening and Firco Trust for customer and third-party screening. USL can also assist customers in obtaining the Accuity trade finance solution, Firco Trade Compliance, and data as well.

Aonghus Geraghty, President and Chief Sales Officer at Unions Systems Limited, said: “We have been supporting banks in Nigeria for over 20 years and we work with three of the top four banks, so it is crucial for us to engage with partners that can guarantee quality and bring a high level of expertise to our customers. A key factor in our decision to forge this partnership with Accuity was the ability of its flagship product, Firco Continuity, to integrate with any payment gateway such as the Swift Gateway, which significantly eases the payment screening process for banks. Through this partnership, we will be able to help our banking clients reduce the risk of dealing with entities which may be subject to international sanctions or connected to financial crime.”

Florence Vicentini, Global Head of Channel Sales and Strategic Partnerships at Accuity, added: “We are delighted to welcome Union Systems Limited to our partner network. The combination of our powerful filtering technology with USL’s strong expertise and long-term relationships with Nigerian banks is set to fuel our momentum in the region. Thanks to this partnership, we are able to help Nigerian banks comply with the rigorous regulatory framework laid out by the Central Bank of Nigeria.”

About Union Systems Limited
Union Systems Limited (USL) is an Information Technology Company focused on the support of advanced software for leading banks and financial institutions. Today, the Company serves three of the top four banks in Nigeria.

For over 20 years, USL has been working with banks in Nigeria, Ghana and Kenya. The company has a deep understanding of these markets. Since the company was formed in 1993, USL has developed strong partnerships with international blue chip organisations including IBM, Oracle, Misys and FircoSoft.

The USL approach of delivering effective solutions starts with a clear, common understanding of the needs of each customer. Working in partnership with the bank, we agree on the area of business that can best deliver high growth and profitability. High growth is achieved by delivering financial products and services to the market that the customer values and is willing to pay for. Profitability is increased not only by selling more products and services but, at the same time, reducing overheads and maintaining compliance.

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 optimize 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 organizational reputations.
Part of RELX Group, a world-leading 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 increase around the globe, so has the danger to the reputations of payments and compliance professionals. Fircosoft’s 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.

The Fircosoft portfolio includes the following products:

  • Firco Continuity for payments transaction screening
  • Firco Trust for customer on-boarding and regular screening
  • Global Watch List which includes PEP lists, sanctions lists such as OFAC, EU, UN, HMT and enhanced sanctions lists which will provide the countries not to deal with, the SWIFT/BICs of banks, the companies, the addresses of banks or family/political/business partners of those individuals
  • Firco Trade Compliance screening including vessels, ports, and dual-use goods, as well as the companies and banks involved in a trade transaction, reducing considerably the time required to assess a transaction while ensuring banks are compliant with the necessary regulations.