Compliance Management for Financial Services

apoBank Migrates to the Avaloq Core Banking System and Automates its Compliance Processes with Actico.

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About APOBANK

apoBank ist Germany’s largest cooperative primary bank. Its unique business model makes the bank a valued partner in the German healthcare market. Its customers include pharmacists, doctors, dentists, veterinarians and the medical technology industry.

Added value in IT functionalities

IT Migration to Avaloq Core Banking System and Actico Compliance Suite

In its new digitalization strategy, the bank set itself the target of improving its customers’digital experience and increasing the flexibility and speed with which it could offer them new financial products and services. As part of its migration to the Avaloq core banking system, apoBank has overhauled its compliance management system.

Innovative compliance solution

How Avaloq and ACTICO Provide an Automated Compliance Solution, Based on Machine Learning

The bank decided to update its IT infractructure as part of its strategy of digital transformation. This included migrating to the Avaloq Banking Suite as its new core banking system and overhauling its whole technical infrastructure. Compliance and extensive automation of monitoring systems are vital elements of the customer management process. This is why, after conducting its evaluation, the bank decided to use the ACTICO Compliance Suite – an application that uses machine learning methods to offer a range of automated compliance functionalities for banks and financial services providers.

At apoBank, this software solution handles the following areas:

  • Know Your Customer (KYC)
  • Know Your Transaction (KYT)
  • Anti-Money Laundering (AML)
  • Monitoring Securities Trading (Detecting market abuse and insider trading)
  • Monitoring employee transactions
WHY APOBANK USES ACTICO COMPLIANCE SOFTWARE

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