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PurpleTRAC Case Study: First Bank

As the sanctions landscape becomes more complex and the level of regulatory uncertainty grows, we take a look at how First Bank manages new regulations to mitigate the financial and reputational risk of failing compliance checks.

First Bank is a Romanian bank, owned and operated by the US investment firm J.C. Flowers & Co. One of their key goals is to adhere to the highest levels of compliance with both local and international regulations.

For First Bank and many others, the process of verifying trade-based transactions is one of the most laborious undertakings of compliance departments and, given the complexity of international maritime trade, banks across the globe like First Bank have been adopting new technologies, such as Pole Star's sanctions screening and compliance solution, PurpleTRAC.