Accuity, the leading global provider of financial crime compliance, payments and Know Your Customer (KYC) solutions, announced that it is working with DEGIRO, the fast growing FinTech and largest online broker in the Netherlands, to automate customer account screening using a comprehensive range of sanctions and watchlist data sets.
DEGIRO has quickly become one of the largest brokers in Europe, which has gained the business significant attention. The FinTech firm is subject to the same anti-money laundering (AML) and counter-terrorist financing legislation as banks and financial institutions.
To help improve risk management and streamline the customer on-boarding experience, DEGIRO is using Firco Compliance Link to automate account screening, allowing the business to continue to scale its on-boarding process and keep pace with its fast expansion. DEGIRO will also benefit from Global WatchList™ data from Accuity which, when used in conjunction with Firco Compliance Link, will reduce false positive matches and effectively uncover potential risks.
COO of DEGIRO, Esmond Berkhout said, “We are committed to upholding the highest financial crime compliance standards and are continually reviewing our compliance processes to meet regulatory requirements, but also to help streamline our operations and offer the best service to our clients.”
Berkhout continued, “Firco Compliance Link has a long history and a good reputation in the market in relation to KYC solutions. We can now create more meaningful screening matches and still give our clients a good on-boarding experience. It also provides an automatic online audit trail, which is required by regulators, and gives us confidence in our financial transactions.”
Firco Compliance Link is an automated and comprehensive solution providing a consolidated view of all account, transaction and trade screening activity. The product provides a complete audit trail and can be installed either as a SaaS solution or as an on-premise installation.
Nick Wilson, EMEA Director at Accuity, said, “We are excited to be working with DEGIRO and to be part of its journey of rapid expansion. The business is breaking boundaries through its diligent attitude and approach to financial crime compliance. By working with FinTechs like DEGIRO, we are able to support their growth through our ability to scale, whilst providing a proven solution that has been trusted by global financial institutions for many years.”
For more information, please contact:
Imogen Nash, Accuity
Tel: +44 (0)20 7911 1379
Francesca Bliss, Cognito
Tel: +44 (0)20 7426 9419
Notes to editors:
DEGIRO is a pan-European broker that serves investors in 18 countries and which processes transactions on stock exchanges worldwide valuing in excess of €50 billion per year. DEGIRO is subject to behavioural supervision by the AFM (Authority for the Financial Markets) and prudential supervision of the Dutch Central Bank (De Nederlandsche Bank). DEGIRO wants to provide added value by developing an affordable financial service for investors worldwide. The combination of technology and financial knowledge creates the opportunity to make high quality and cost-effective financial services available to everyone.
Accuity offers a suite of innovative solutions for payments and compliance professionals, from comprehensive data and software that manage risk and compliance, to flexible tools that optimise payments pathways. With deep expertise and industry-leading data-enabled solutions from the Fircosoft, Bankers Almanac and NRS brands, our portfolio delivers protection for individual and organisational reputations.
Part of RELX Group, a global provider of information and analytics for professional and business customers across industries, Accuity has been delivering solutions to banks and businesses worldwide for 180 years.