Triodos Bank has chosen its NetEconomy’s Compliance Manager financial crime application, which will help Triodos to improve and automate watchlist checking, Know Your Customer procedures, and monitoring of customer behavior and financial transactions to mitigate fraud, money laundering and terrorist financing activity.
Established in 1980, Triodos Bank offers a range of banking services for its customers including savings, investment and asset management, private banking, payment services, lending and insurance. NetEconomys Compliance Manager application will monitor Triodos customers across these product lines within a hub environment covering Germany, Spain, the United Kingdom, Belgium and the Netherlands to identify and report suspicious activity.
“After a thorough evaluation, we felt that NetEconomy was the best fit for Triodos Bank. We selected NetEconomy for the flexibility and robustness of its solution, and also the responsiveness and vast compliance and financial crime experience of its staff. We are confident that together with NetEconomys skilled team and configurable future-proof solutions we can prepare for any new regulatory changes or requirements while at the same time continue to safeguard our customers and our organisation,” says Albert Hollander, group legal and compliance officer, Triodos.
“We are extremely pleased to be selected by a bank whose mission is to enable individuals, institutions and businesses to use money more consciously in ways that benefit people and the environment. Delivering our industry-proven solution to a financial institution like Triodos, is an honor and privilege for NetEconomy. We look forward to our work together to implement a premier solution to minimise regulatory risk and fight the threat of financial crime across their complex environment,” adds Peter Kwakernaak, chief commercial officer, NetEconomy.