DVB Bank of Frankfurt relies on the Innovations Compliance Suite
The leading specialist in international transport finance has integrated the Innovations’ Compliance Module to prevent money laundering and terrorism financing and to monitor employee trading.
DVB Bank AG puts its trust in the Innovations Compliance Suite and its most important module, the MLDS anti-money laundering solution. The Compliance Suite also includes products for stock market compliance, embargo monitoring of money flows, and comparison of customer data against lists of suspicious persons.
DVB Bank was looking for an integrated solution that would cover all these areas reliably. Just as important, however, was the flexibility of the application, as Iris Schrecker, Head of Group Compliance at DVB Bank, emphasized. “We have a unique strategy focused on selected segments of the international transport market. Our business model cannot be compared with that of other banks. So we needed an application that offered the ability to adapt to our needs, and that is what the rule-based approach of the Compliance Suite and MLDS 3.0 delivers.“
The option of individually defining workflows was also critically important. “We are very international in our orientation, with locations of varying sizes that also require a variety of workflows. So the option of flexible integration in our business processes was an important criterion,” she explained.
Bosch Software Innovations GmbH
Innovations Software Technology is a development partner for relationship management systems and risk and compliance solutions. The company was founded in 1997. Its customers include companies such as Bank Vontobel, Zürcher Kantonalbank, LGT Bank in Liechtenstein, Schweizerische Post - Post Finance, the Swiss Life Group, Volkswagen Bank and Rand Merchant Bank. Innovations is one of the leading providers of anti-money laundering solutions in Switzerland and Liechtenstein with its MLDS system.
Since September 2008 Innovations Software Technology belongs to the Bosch Group, an international leading technology and service provider.