Lowenstein Sandler represented Safe Banking Systems (SBS) in its acquisition by Accuity.
SBS, a Mineola, New York-based business, is a specialist provider of innovative Know Your Customer due diligence and anti-money laundering solutions that enable financial institutions to identify, assess and manage risk across the enterprise. SBS’s solutions perform advanced false positive reduction and risk assessment in the account screening process across a number of sectors, including high volume banks and non-bank financial institutions, bringing greater intelligence for entity resolution to clients worldwide.
Accuity, part of RELX Group, is a leading provider of innovative solutions for payments and compliance professionals, offering comprehensive data and software that manage risk and compliance, and flexible tools that optimize payments pathways through its Fircosoft, Bankers Almanac, and NRS brands.
SBS is already a long-standing partner of Accuity’s Fircosoft business, leveraging the Fircosoft filter in its solutions. Accuity and SBS share many mutual customers, which benefit from their complementary offerings. This acquisition will allow Accuity to strengthen these benefits to clients as they face an evolving, complex and costly regulatory environment, providing Accuity with an enhanced and leading account screening solution, and complementing its transaction and trade screening offerings.
Lowenstein Sander served as legal counsel to SBS; Evercore served as financial advisor to the company.
The Lowenstein team was led by Raymond P. Thek and included Alex D. Leibowitz, Pooja Patel, Mitchell McDonald, and Zarema A. Jaramillo.
