TONBELLER AG Extends Solution Portfolio With Siron Know Your Customer to Fight Financial Crime and the Financing of Terrorism

BENSHEIM, Germany, February 9, 2011 /PRNewswire/ -- TONBELLER adds Siron Know Your Customer (KYC) to its Siron compliance solutions portfolio. SironKYC supports financial institutions in complying with local and international laws and regulations to ensures compliance with legal and risk assessment requirements for new and existing business relations also known as Customer Due Diligence (CDD). The regulations according to the KYC-principle are incorporated in guidelines and laws, such as US Patriot Act or 3rd EU-Money-Laundering-Directive.

SironKYC covers the entire process of new customer acceptance from standardized electronic input of customer data, automated matching with PEP and embargo lists generating a customer risk rating and may easily be integrated in the existing infrastructure. Based on easy to create and flexible questionnaires for customer acceptance, SironKYC enables compliance with legal requirements to risk rate a customer and perform the appropriate due diligence for the business relationship. This analysis is done in real-time during customer acceptance and leads to specific instructions for account managers dealing with potential customers.

Once the customer acceptance has been completed, it gives the financial institution the capability to continuously monitor the requested customer.

SironKYC provides the possibility for immediate risk assessment of the new customer. The information on person and business relation supplied by customers can be compared with their actual behavior. If customer behavior shows a significant deviation compared with the stated behavior during customer acceptance, the risk classification can automatically be increased notifying the compliance department to perform Enhanced Due Diligence (EDD). SironKYC can either be used stand-alone or could be integrated with Anti Money Laundering or Anti Fraud solutions like SironAML and SironFD.

    
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    Press contact:
    Martin Gwisdalla
    Tel: +49-62517000412
    Martin_Gwisdalla@tonbeller.com