Valartis Bank Protects Clients Against High-Risk Persons
Valartis Bank (Liechtenstein), has decided to prevent money laundering with software from ACTICO: The Name Matching Customer compliance module periodically matches names of clients and payees against embargo lists.
Detect High-Risk Persons – Safeguard Privacy
The specialty bank focuses on investment advisory services and asset management, and attaches great importance to their reputation. Special care is exercised in detecting high-risk and politically exposed persons. Special care in this conjunction also means matching data from several internal sources against selected embargo lists. Discretion and upholding bank secrecy are of particular importance for Valartis Bank (Liechtenstein). Sabine Bergner, Manager of the IT Department: "Bank secrecy is our top priority, and the focus of our attention concerning the applications."
Matching Data from Various Sources
The capability of matching data from various sources played a decisive role for the evaluation of the system. "Name Matching Customer was the only product capable of checking data from different sources – from the Oracle database to the Excel list," so Sabine Bergner. What also convinced Valartis Bank was the intuitive user interface and ACTICO's professional and technical competence.
"We now have a fundamentally new support to comply with anti-money laundering regulations. Clarifications for the avoidance of money laundering are now significantly simplified."
Dr. Gerhard Lackinger, Management Board, Valartis Bank (Liechtenstein)