The software behind FCAS has been developed in Kenya over a period of 7 years. It is specific to Kenya’s banking environment. It caters for and can deal with every and any possible operational permutation practiced by any bank in Kenya. It has been developed by lawyers, mathematicians, accountants and auditors. It is, simply stated, the most robust bank interest verification and recalculation software available to any concern operating in Kenya, in East and Central Africa and in all English Common Law jurisdictions based on the English mercantile traditions.
The entire FCAS process actively involves the expertise of IRAC’s lawyers, mathematicians, accountants and auditors. Subsequently, the service will be offered at IRAC’s offices.
IRAC understands the highly sensitive nature of the work involved. Strict confidentiality during the entire period of engagement is therefore maintained. On initial engagement with the client, a confidentiality agreement is signed. (The Mutual Non-disclosure Agreement)
For security during data transmission between the client and IRAC, soft copies of the contractual documents and account statements are transmitted through Compact Disks or Flash Disks. Agreed on passwords will be employed to ensure only authorized persons get access to the information therein.
Transmission of hard copies of the said documents will only be between the authorized persons.