New compliance system? Here’s why ACTICO is hard to beat.

Banks upgrade existing compliance solutions for numerous reasons

For banks, few things are more critical than upgrading a compliance system. Even so, many already have procedures for assessing potential new solutions underway, for a number of different reasons: the software may be showing its age, the set-up is obsolescent or the support is no longer on point. Many companies have also seen a heterogeneous compliance landscape evolve over the years and now seek a new system to remain up to speed. And far from infrequently, software providers opt to stop serving a particular market and rolling out new releases, all of which compels banks to rethink their approach.

Banks favour forward-looking compliance IT systems

To operate as securely as possible, banks and financial service providers tend to scrutinise which IT service provider and which compliance solution are best-placed to meet their needs going forward. One must here: the solution must include the best available technology, which, in practical terms, includes leveraging AI components and functionality for operational use. Also relevant from the security perspective is the expertise of the IT service provider and the experience of the bank employees tasked with managing compliance projects.

"For banks looking to assess new compliance solutions, ACTICO is the best available option on the German market."

Thomas Knöpfler

General Manager / Actico

Why go for ACTICO Compliance Suite?

ACTICO, one of the leading providers nationwide, is headquartered in Immenstaad, on Lake Constance and its workforce have long years of experience in implementing compliance projects. Banks, insurance companies and financial service providers use the ACTICO Compliance Suite in areas including Anti-Money Laundering, Customer- and PEP Screening, Transaction Screening and Capital Market Compliance.

One of the key ways it helps streamline processing and reduce false positives is by combining machine learning rules. Time and again, when completing customer projects, ACTICO has proved how existing compliance solutions can be upgraded to the ACTICO Compliance Suite seamlessly.

So what makes ACTICO a must-have when migrating your system?

ACTICO has prepared migration policies to facilitate changeover. The value of this approach is underlined by the many different compliance systems available and the fact that banks want to transfer their data, rules and processed hits as swiftly as possible.

In fact, the data to be delivered to ACTICO Compliance Suite can be transferred into the required data format at the bank as-is. Namely, (PEP or sanctions list) hits already processed from the customer checking process can be transferred in a way that eliminates any need to reprocess. Similarly, the rule-adoption process can also be handled with a partially automated solution.

As a general rule, historical data can also be transferred from the existing solution to the ACTICO Compliance Suite in a process that is individually tailored in each migration project. In projects that ACTICO has overseen however, banks have opted against taking over historical data in favour of alternative solutions – archiving systems for example.

The key factors summed up:

PEP and sanctions list hits transferred to the ACTICO Compliance Suite: no more duplicate processing.

Interface for transferring the data of the existing compliance solution to the new environment: A converter renders the data compatible with the ACTICO Compliance Suite.

A higher degree of automation for technical migration.

Scope to partially automate adoption of rules and scenarios.

Transfer of historical data from the existing solution can be clarified individually for each customer.

Great potential to save time and money.

Hugely experienced in rolling out compliance projects with numerous satisfied customers.

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