The KYC profile plays a significant role in reviewing and clarifying complex financing.

 

KfW IPEX-Bank uses ACTICO's Compliance Suite Internationally

Legal Requirements as a Starting Point

KfW IPEX-Bank is responsible for international project and export financing within KfW Bank Group. They offer credits to German and European companies, infrastructure financing in Europe, and financing for worldwide exports and projects, all of which are important to the German and European economy overall. With a credit portfolio of EUR 60 billion, KfW IPEX-Bank is a large credit institution operating on a global scale, representing the most important global economic and financial centers.

In the wake of new legal requirements imposed by the EU Anti-Money Laundering Directive and relevant sanction regulations, KfW IPEX-Bank was seeking a software solution to comply with these regulations and support the bank’s own specific requirements. ACTICO won the bid. The flexibility of its Compliance Suite means that it can best fulfill KfW IPEX-Bank's functional and technical requirements.

Flexible Solution for Customized Financing Models

The Money Laundering Detection System (MLDS) module of ACTICO's Compliance Suite includes a KYC profile (Customer Due Diligence) that plays a particularly significant role in reviewing and clarifying complex financing. The automatic workflow leads the relationship manager through the process of opening a business relationship and creating a KYC profile. In this context the risk classification assigned to the client alerts the relationship manager to the documentation that is required so that no relevant information is forgotten.

The various relationships of persons involved in large credits can be graphically represented in the "Relationship Browser". This makes it possible to more easily identify relationship networks and resulting risks. MLDS also reviews actual transactions for suspicious scenarios that may need clarification. The Name Matching Customer module compares persons involved in the transactions with current watch lists, while transaction details such as recipient and booking text are checked against name and embargo lists.

Mobile Notification of Hits

Clarification of embargo hits can be extremely time-sensitive so ACTICO's Compliance Suite supports notification by email where those hits are involved. These notices can also be accessed via mobile telephone regardless of location, facilitating increased mobility for Compliance employees.