Confinale enters into a partnership with RegTech supplier ACTICO

The banks’ fight against money laundering, insider trading, terrorist financing and sanctions violations is far from over, as underscored by the fact that these issues regularly hit the headlines. Over the last few years, banks have been trying to make headway in this difficult area by investing heavily in their IT systems and processes. Unfortunately, their opponents are also constantly upgrading their systems and often employ cutting-edge methods and technology.

That’s why it is more important than ever for banks to invest in systems and processes that prevent the abuse of the financial system. Banks need to harness the latest technology to ensure maximum automation and integration in all relevant areas of their operations. This technology has to be flexible, transparent and easy to adapt to the bank’s specific requirements.

Confinale AG is a young Swiss company with around 70 employees. Its focus is on providing consulting services and helping banks to develop and integrate these kinds of compliance systems. Dr Jonas Misteli, a partner at Confinale, explains: “We are keen to enter into partnerships when a third party already has a strong, proven solution on the market.” That’s why Confinale recently became an implementation partner of ACTICO, based in Immenstaad, Germany. With its Compliance Suite, ACTICO offers a highly automated RegTech tool that meets the stringent requirements of banks for such integrated solutions. The sets of rules supplied by ACTICO are clearly presented, ensuring that the Compliance Suite is extremely transparent and can be adapted to specific requirements. In parallel with the normal rules, it also harnesses new technologies such as machine learning to optimize evaluations and improve hit accuracy. It is easy to connect to external data streams and has a standard adapter for core banking systems such as Avaloq.

RegTech has become an integral part of compliance and its importance is growing steadily. Confinale has already implemented ACTICO’s Compliance Suite for a number of banks in Germany and abroad: “Thanks to our experience with these exciting projects, we are the ideal consultants and implementers for banks that have handled their own compliance issues in the past, sometimes using manual processes. With the Compliance Suite, a product is on the market that meets the requirements of a modern, highly automated and integrable RegTech solution. That’s why we believe our partnership with ACTICO is the perfect fit for our strategy and that it will help us create real added value for our customers”.  Software manufacturer ACTICO is also convinced of the benefits of this partnership. Thomas Knöpfler, General Manager and CSO of ACTICO says: “I think the partnership with Confinale is a successful approach to implementing bank compliance projects with high quality, speed and security.”