Compliance management for financial services
apoBank benefits from the partnership between Avaloq and ACTICO in the new core banking system.
About APOBANK
apoBank has a unique business model in Germany. It supports and advises pharmacists, doctors, dentists and veterinarians, making it a strong and trusted partner in the German health care market.
It offers all the financial and consulting services of a universal bank in the lending, deposit and investment business, plus asset management.
Added value in IT functionalities
IT migration to core banking system of software provider Avaloq
apoBank turned to Swiss software provider Avaloq to help it restructure its core banking system. The IT migration went live in June 2020. Thanks to the partnership between Avaloq and ACTICO, apoBank now enjoys all the benefits of ACTICO’s compliance functionalities.
Innovative compliance solution
Avaloq Software and ACTICO Compliance Suite come together to provide an innovative, automated compliance solution, based on machine learning
The two companies have integrated the ACTICO Compliance Suite into Avaloq’s software solutions for banks and wealth managers, making it easy for Avaloq’s clients to use the new compliance offering as a standardized solution to prevent financial crime.
The ACTICO Compliance Suite is an application that uses machine learning methods to offer a range of automated compliance functionalities for banks and financial services providers. These include the detection and prevention of money laundering and terrorist financing (AML), customer due diligence and Know Your Customer (KYC) procedures, sanctions and PEP screening, and much more.
"The expansion of our partnership with ACTICO illustrates the importance Avaloq attaches to the basic principle of an open platform architecture."
Martin Greweldinger, Group Chief Product Officer at Avaloq
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