SAS solutions enable the bank to meet the increasing demand of compliance requirements.

"SAS provides comprehensive solutions to Jordan Islamic Bank that support FATCA monitoring and compliance, linking EGRC functions to strengthen governance and foster trust, as well as offering an integrated and open-ended architecture with implementation of AML solutions," said Shukri Dabaghi, Regional Director Middle East & Francophone Africa at SAS. "With these solutions, Jordan Islamic Bank will be able to make better informed regulatory decisions."

SAS' security and risk management solutions provide a holistic framework that supports the bank's most critical information and intelligence needs to simplify processes and support the consistency and integrity of information. It helps the bank meet stringent government regulations, protect shareholder confidence and maintain a strong reputation.

Dale Stevens, Head of Risk, SAS UK & Ireland added: "Businesses around the world and particularly in the UK are looking to solve similar challenges to Jordan Islamic Bank's. Real time information on demand is essential to assess risk and compliance. There's also a difference between achieving compliance and having a genuine, holistic view of risk across the business. This stage brings financial benefits too and we've seen businesses release capital of up to £100m in some cases, by making decisions eight hours earlier than before. Too many banks are essentially missing the boat because they're too busy trying to catch the wind. These solutions help them conduct multiple stress tests, and take a forward-looking analytical approach to risk."

"This agreement is an application of our bank's strategy to develop its banking operations through ensuring a world-class integrated banking system and contributes to improve customer experiences and customer profitability, manage risk and regulatory compliance, anticipate fraud and create value from data," said Mr. Musa Shihadeh, Vice Chairman, General Manager of Jordan Islamic Bank. "This is what we hope to obtain through experiences, exchange and strategic partnership between our bank and SAS."

SAS solutions provide advanced analytical detection coupled with a best of breed data management layer to help reduce false positives. It approaches the issues of compliance and risk with an innovative, modular set of solutions that give the bank the tools to simplify the process of analysing data and detecting "the needle in the haystack".

SAS currently provides the only platform with core framework leveraged by AML, Fraud and Financial Crimes Management, FATCA, EGRC and other similar services. SAS delivers high-performance analytics and multiple detection methods so organisations can monitor more risks in very large data volumes. Additionally, organisations can standardise and manage strategic and operational risks and consolidate information into an enterprise-wide view of risk.