Mexico’s CIBanco Joins Forces with Swift to Strengthen Financial Crime Compliance Efforts

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Mexico City, January 25 - A New Era in Financial Crime Prevention

In a significant move aimed at enhancing its anti-money laundering and combating the financing of terrorism (AML/CFT) program, Mexican bank CIBanco has partnered with Swift to implement the financial institution’s Compliance Analytics tool. This advanced data analytics service will enable CIBanco to better detect and prevent financial crime by analyzing its global message traffic on the Swift network.

The Importance of Data Analysis in Preventing Financial Crime

According to CIBanco’s CEO, Mario Maciel, “Compliance Analytics provides global oversight and detailed analysis, enabling us to act rapidly and appropriately to address risks.” This partnership marks a significant step forward for CIBanco, which has committed to investing in cutting-edge technology to tackle the financial industry’s most pressing challenges.

Leveraging Swift’s Compliance Services

By leveraging Swift’s Compliance Analytics, CIBanco will be able to enhance its compliance efforts and reduce the risk of de-risking. This is made possible by Swift’s advanced data analytics service, which analyzes global message traffic on the Swift network to detect potential risks.

A Comprehensive Compliance Solution

CIBanco has also adopted Swift’s Sanctions Screening and KYC Registry, making it the first Latin American institution to implement Swift’s comprehensive compliance services suite. This includes a range of tools and services designed to help financial institutions mitigate risk and stay compliant with regulatory requirements.

Swift’s Commitment to Financial Crime Prevention

As a leading provider of secure financial messaging services, Swift has been at the forefront of developing innovative solutions to combat financial crime. The company’s Compliance Services unit offers a range of tools and services designed to help financial institutions mitigate risk and stay compliant with regulatory requirements.

A Global Network of Secure Financial Messaging Services

Swift is a global member-owned cooperative with over 11,000 banking and securities organizations in its network, operating in more than 200 countries and territories. The company’s Compliance Services portfolio includes Sanctions Screening, Sanctions Testing, Name Screening, Compliance Analytics, Payments Data Quality services, and the KYC Registry.

Contact Information

For more information, please contact Adriana Villasenor at Adriana.Villasenor@swift.com or +1718-715-6042.