Development of Database of Proscribed Persons and PEPs
PBA has facilitated, through a lengthy process, and found a viable database solution for screening of negative lists and PEPs.
A quality database screening solution with a favorable cost structure through local vendors was vetted at length by PBA’s Smaller Working Group comprising representatives from MCB, HBL, UBL, NBP, ABL, ICBC & PBA Office.
- Sectoral Matter
- September 20, 2021
After detailed analysis of different options, the Working Group selected the analytics company, Love for Data (LFD) with the option of, ‘Pay Per Search’ for screening. Accordingly, PBA has informed its member banks about the availability of the screening solution. The banks can review their options and avail the service in their individual capacities as per the requirements of their respective institutions.
The role of PBA was to facilitate the banking industry in finding a quality, yet economical solution, for screening requirements. PBA has also requested banks to inform PBA their willingness to acquire the solution by September 6, 2021, so that the service provider may be in-formed accordingly.
