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INTEGRITY DUE DILIGENCE SERVICES


  • Solicitation Number: RFP 18-0386
  • Issue Date: May 10,2018
  • Closing Date: Jun 07,2018

CLOSING DATE AND TIME: JUNE 7, 2018 @ 3.00 PM EST

IFC conducts integrity due diligence (IDD) on its business clients and partners.  This is similar to the "Know Your Customer" process used in the financial service industry.  IDD is critical to ensure that IFC works with reputable and sustainable business partners so that its investments are successful, its resources are used effectively, and its development objectives are met. IFC is fully committed to combating money laundering and the financing of terrorism.  Its anti-money laundering and combating finance of terrorism (AML/CFT) program takes account of and supports international best practices. IFC's current IDD process includes manual desktop research by various operational teams using several ad-hoc sources in different languages.  This takes a significant amount of time and resources. In addition, IFC operates an overnight batch screening system which screens names of IFC clients against various sanctions lists.  The screening system uses fuzzy logic to match the names against the lists.

Our overall objective is to introduce efficiencies into our current IDD research and screening processes by reducing manual research effort, increasing the accuracy and efficiency of the research, and improving the batch screening process. We are seeking to identify and procure a leading and effective vendor solution ("Solution") with Artificial Intelligence (AI) based on fuzzy logic and cognitive search capabilities that will help us achieve our objective.

The project is broken in two phases:

Phase 1: Replace manual IDD research across many sources with a single research solution including regular monitoring. In addition the solution should integrate IFC's internal watch list as part of the research.

Phase 2:  to conduct batch screening. The intent that this solution will integrate with IFC's internal systems that maintain master data for regular automated screening of existing solution based on the Phase 1 implementation above.

This is an optional requirement and is contingent on the capabilities of the chosen vendor.

The RFP for Strategic Workforce Planning Solution may be obtained by sending an email to the designated Category Manager, referencing the following information:

1.   RFP 18-0386

2.   Company Name

3.   Contact Person Name and Title

4.   Address

5.   Telephone Number

6.   Contact's Email Address

- {Sanjay Colaco (scolaco@worldbank.org)}

The WBG reserves the right to publicly disclose contract award information, including but not limited to, name of company receiving the award, brief description of services, and contract award amount, for any contract award valued over US$250,000.  Offeror's proposal and contractual documents will remain confidential and therefore not subject to disclosure. 

The World Bank reserves the right to reject any or all responses without recourse.