First MicrofinanceBank, BenchMatrix join hands for multiple solutions

First MicrofinanceBank Limited and BenchMatrix Private Limited (BenchMatrix) have become partner for implementation of RiskNucleus(r) Anti-Money Laundering System. In addition to meeting regulatory requirements, this web-based system will allow the Bank to screen customers, transactions, employees and more against sanctions lists, ensure effective KYC/CDD review, perform customer risk assessments, monitor transactions through a configurable scenario manager and alert work flow module, maintain necessary documents, and generate extensive reports.
The First MicroFinanceBank Ltd, Pakistan was established in 2002 as a nation-wide microfinance bank, licensed by the State Bank of Pakistan. It operates in all provinces of the country ie Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan and Gilgit-Baltistan through 83 full service branches, 6 POLs, and 50 Pakistan Post sub-offices. The First MicroFinanceBank has given total loans of Rs 33 billion since its inception.
BenchMatrixis a leading advisory services and automated Governance, Risk & Compliance (GRC) technology provider with a focus on developing practical and effective solutions for organizations. Our team has several full cycle implementation experiences in multinational organizations with success stories in Pakistan, Bahrain, Qatar, Saudi Arabia, UAE, Kuwait, France, Canada, Malta, Turkey, Algeria, and Tunisia.-PR