TONBELLER AG and Printec Group Team up to Assist Alpha Bank in Combating Money Laundering in its South-East Europe Subsidiaries
Athens and Bensheim, October 2012 − Printec Group and TONBELLER AG have announced the successful implementation of a central anti-money laundering system for Alpha Bank’s subsidiaries in South-East Europe.
Alpha Bank Greece has implemented a centralized AML-(Anti-Money Laundering) system designed to protect the Group’s assets and reputation against money laundering in its subsidiaries in South East Europe, Alpha Bank Albania, Alpha Bank Bulgaria, Alpha Bank AD Skopje, Alpha Bank Romania and Alpha Bank Srbija AD, through its IT Services provider, Alpha Supporting Services.
After evaluating various systems, Alpha Bank Greece chose TONBELLER’s flagship suite Siron® Compliance Solutions. The software and the implementation of the project were realized by Printec Greece in cooperation with TONBELLER, while the infrastructure is implemented and maintained centrally in Greece by Alpha Bank. The solution includes the modules Siron®EMBARGO (sanction list screening), Siron®AML (anti-money laundering), Siron®RAS (risk assessment), Siron®KYC (risk rating during customer acceptance), Siron®MCA (completeness check of SWIFT messages) and Siron®RCC (Risk & Compliance Cockpit).
Financial crime, such as money laundering and the financing of international terrorism, create a major regulatory risk for banks and other companies. Financial crime continuously changes as criminals are looking for ways of getting around ever more sophisticated prevention techniques. In order to safeguard the financial system from the abuses of financial crime, it is part of the mission to continually develop national and international laws and directives.
“With TONBELLER’s AML platform by Printec, we are taking an important step towards updating and enhancing our systems in order to comply with regulations and safeguard the Bank from illegal money trafficking in a cost-effective way.,” says [Christos Lygeros, Compliance Division Ass. Manager] from Alpha Bank. “We feel that our control system has been strengthened with regards to interbank checks. We are very pleased with the quality, professionalism and speed of the implementation team."
“We are absolutely delighted that this project has been delivered in accordance with Alpha Bank’s requirements”, says Torsten Mayer, member of the managing board of TONBELLER AG. “This central system enables the compliance offices of Alpha Bank to comply with the statutory requirements following the integrated approach of monitoring financial crime at both the local and the central level. The solution suite offers extensive functionality, e.g. real-time matching with sanction lists of incoming and outgoing SWIFT messages, client classification by financial or operational risks, monitoring of the client's transactional behavior (profiling), generation and monitoring of money-laundering scenarios and alerts, including accompanying documents, and – last but not least – compliance reporting to the Bank's top management.”
“After nine months of implementation at the headquarters in Athens and with challenges originating from the locations involved, national character sets, the time zones or Central Bank controls, the project mainly owes its unprecedented success to the integration of all the above into a central system and software infrastructure”, comments George Kyriakopoulos of Printec S.A.. “What also makes this project exceptional is that we also had to consider five different statutory frameworks, payment systems, and technologies for online transaction processing. The team also had to cope with the tight schedule set by the requirements of the local Central Bank and with the bank's stringent security directives.”
About Alpha Bank
Alpha Bank Group is one of the leading banking and financial services groups in Greece, offering a wide range of services including retail, SME and corporate banking, credit cards, asset management, investment banking, private banking, brokerage, leasing and factoring. With more than 900 Branches, the Alpha Bank Group is also active in the international banking markets, with presence in Cyprus, Romania, Bulgaria, Serbia, Ukraine, Albania, F.Y.R.O.M. and the United Kingdom.
About TONBELLER AG
TONBELLER is an international software and consulting company that offers a comprehensive compliance solutions suite and management intelligence solutions suite specializing in consulting, training and support. Its core competences are the development and implementation of software solutions for the prevention of financial crime and for corporate management and controlling in complex and dynamic markets. Over 1,000 clients in 50 countries benefit from the combination of innovative technology and consulting. In close cooperation with its global partner networks, TONBELLER meets regional needs regarding know-how and customer expectations. Sustainability in leadership and software development is an integral part of the company culture. It protects investments and is the basis for long-term customer relations. TONBELLER is located in Bensheim, Germany.