Emirates NBD has announced a collaboration with Global Screening Services (GSS) to implement GSS’s network-driven sanctions screening solution. This move aims to enhance the bank’s domestic and cross-border payment and trade transactions. Emirates NBD is also considering a strategic investment in GSS to further their multi-year collaboration, which involves more than 30 global financial institutions.
The announcement was made at the Dubai FinTech Summit by Victor Matafonov, Group Chief Compliance Officer of Emirates NBD, alongside Tom Scampion, CEO and Co-Founder of GSS, and John Cusack, Co-Founder of GSS. The partnership is seen as a significant step in developing an industry-first sanctions screening platform designed to improve operational efficiency and reduce customer friction.
GSS’s platform is built on global industry standards and shared intelligence, enabling banks to detect risks more accurately and adapt quickly to regulatory changes. It supports compliance with frameworks like ISO 20022, enhancing transparency across the payments ecosystem.
Victor Matafonov stated: “At Emirates NBD, we actively seek partnerships that enhance our compliance framework, boost efficiency, and reinforce our role as digital leaders. GSS’s innovative approach aligns closely with our objectives of continually elevating our risk management and operational effectiveness.”
Neeraj Makin, Group Head of Strategy at Emirates NBD, added: “The Emirates NBD – GSS partnership is targeting to transform our compliance ecosystem and unlock untapped efficiencies in our sanctions screening operations.”
Tom Scampion commented: “We’re proud to partner with Emirates NBD… Together, we aim to set new benchmarks for sanctions screening.”
This collaboration underscores Emirates NBD’s commitment to risk management and digital innovation while reinforcing its leadership in setting new standards for sanctions compliance in the MENAT region.
