RFQ Summary: Sanctions Screening Solution

This re-advertised request for quotations seeks a suitable service provider to supply a subscription-based electronic sanctions screening solution to the Land and Agricultural Development Bank of South Africa and its subsidiary, Land Bank Life Insurance Company SOC Ltd (LBLIC). The contract will run for a fixed period of 36 months, starting 1 September 2026, ensuring continued regulatory compliance after the current service agreement expires on 31 August 2026.

Objectives

• Enable LBLIC to meet anti-money laundering, counter-terrorist financing, and targeted financial sanctions screening obligations.
• Screen prospective and existing clients, as well as employees, against applicable sanctions lists, watchlists, politically exposed person (PEP) databases, and adverse media sources.
• Support compliance with the Financial Intelligence Centre Act, 2001 (FIC Act), the Protection of Constitutional Democracy Against Terrorist and Related Activities Act (POCDATARA), and Prudential Authority regulatory requirements.
• Facilitate compliance with Section 26B of the FIC Act, which prohibits transacting with sanctioned persons and entities.

Scope of Services

• Provide access to a fully managed, web-based sanctions screening platform.
• Allow screening of both individuals and legal entities.
• Support screening during customer onboarding, claims payouts, and ongoing monitoring of existing customers.
• Include sanctions lists, PEP databases, watchlists, and adverse media screening.
• Cover four (4) user profiles and an estimated 1,500 clients screened per annum.
• Provide user licences/subscriptions, ongoing database updates, technical support, user training/onboarding, and reporting/audit functionality.
• Include initial account setup and onboarding, where applicable.
• Bidders must provide a priced quotation for the full 36-month subscription period, including any additional costs, with VAT shown separately.
• The successful bidder must sign a confidentiality agreement.

Technical Requirements

• Web-based and securely accessible.
• User-friendly interface.
• Comprehensive search functionality.
• Ability to screen both individuals and legal entities.
• Maintenance of historical screening records.
• Export functionality for search and screening results.
• Customer support and technical assistance during the contract period.

Skills and Service Provider Requirements

• Proven experience in providing sanctions screening services to financial institutions.
• Access to credible, regularly updated sanctions and compliance databases.
• Implementation and ongoing support capability.
• Strong information security and data protection controls.
• Relevant client references, where available.
• Capability to provide the solution for 36 months without interruption.

Bidder Compliance and Evaluation Criteria

• Bidders must submit a company profile, product brochure, or technical proposal demonstrating compliance with the terms of reference.
• Mandatory returnable documents include a completed SBD 4 disclosure form and SBD 6.1 preference points claim form.
• Bidders must have a valid tax compliance status, verifiable via SARS or the Central Supplier Database (CSD), and be registered as a vendor on the CSD.
• Bidders must submit a valid B-BBEE certificate or sworn affidavit, certified identity documents of shareholders/directors, and Know Your Customer (KYC) documents for FICA and PEP screening.
• Failure to meet mandatory requirements will result in immediate disqualification.
• The 80/20 preference point system applies: price is allocated 80 points, and specific goals are allocated 20 points.
• Specific goals include companies that are at least 51% owned by black people, and at least 51% owned by black women.
• Land Bank may perform due diligence, financial analysis, and risk assessments relating to tax status, past performance, pending litigation, criminal convictions, tender default registers, and reputational harm.

Key Terms Explained

• Sanctions screening: Checking names against official lists of individuals and entities subject to financial restrictions or prohibitions.
• PEP: Politically Exposed Person – an individual holding a prominent public position who may pose a higher risk of involvement in money laundering or corruption.
• Adverse media screening: Searching news and other sources for negative information relevant to financial crime risk.
• FIC Act: South Africa’s primary anti-money laundering and counter-terrorist financing law.
• CSD: Central Supplier Database – the South African government’s supplier registration and verification system.
• B-BBEE: Broad-Based Black Economic Empowerment, used to advance economic transformation through preferential procurement.

Closing date and time: 26 August 2026 at 12:00.