TONBELLER Software Rated Best-in-Class by Independent Research Group! | FICO TONBELLER

TONBELLER Software Rated Best-in-Class by Independent Research Group!

Siron®KYC has been awarded two best-in-class ratings in CEB TowerGroup analyst report for its due diligence check of new and existing customers.

Bensheim, January 28, 2014 - TONBELLER, a leading international software provider for solutions against white collar and financial crime, has been awarded best-in-class ratings in CEB TowerGroup analyst report for its Siron®-based Know Your Customer (KYC) solution. For its current KYC report 2013, CEB TowerGroup has subjected the technology of 9 providers to critical scrutiny. The report identifies the key criteria for the investment decision and compares the products of the providers using a transparent and customer benefit-related method.

According to CEB TowerGroup analysis, there is a growing demand for Know Your Customer solutions due to increasingly complex legal and statutory requirements. And there is a greater risk for rule infringements and ensuing monetary penalties and reputational damages. KYC systems enable financial institutions to keep pace with these requirements, to identify risk potentials prior to customer acceptance and to apply due diligence by monitoring their customers' actual behavior. These systems are the key pillars of the fight against money laundering, financing of terrorism, and fraud.

For KYC compliance, CEB TowerGroup recommends a lifecycle management approach combining requirements from customer onboarding and ongoing risk monitoring within a single risk management framework. This requires a robust and flexible KYC technology that supports a large number of interfaces to third-party systems. It also demands powerful analytical capabilities to better understand, segment, and predict risk concentrations within an institution’s customer base.

“Financial institutions around the world use KYC systems to protect them from harm by identifying whether firms and individuals are safe to do business with.” Says CEB TowerGroup Research Director Andy Schmidt: “These firms increasingly rely upon solutions that can screen customers both during onboarding and on an ongoing basis to monitor for changes to the customer’s risk profile given that risk often changes over time”.

The mature and proven solution Siron®KYC has been named a best-in-class provider in the categories ‘Initial Due Diligence’ and ‘Ongoing Monitoring’. Besides the breadth and depth of the functionality that covers the entire customer-relation lifecycle, the solution has impressed by its ease of operation from the back-end system administration to the case management tools of the front-end.

The drag & drop functionality of the customer acceptance questionnaire and the comprehensive integration options for external data sources (e.g. sanction, watch, or PEP lists) has received particularly favorable feedback from the analysts. Further strengths of the solution are dynamic risk classification through specified and customizable rule sets, behavior and link analysis, and integrated risk cockpits.

“We are delighted to be rated a best-in-class solution by CEB TowerGroup. Not only our anti-money laundering solution, awarded as best-in-class in 2012, but also our KYC solution obtains top results compared with international benchmarks. We see this award as a confirmation of our integrative approach that combines Governance, Risk & Compliance in order to achieve the highest degree of effectiveness and efficiency in the fight against white-collar and financial crime", says Torsten Mayer, Executive Board at TONBELLER, commenting on the latest CEB TowerGroup analyst report.


TONBELLER is a leading global provider of integrated IT solutions for governance, risk & compliance. Based on the Siron® product family, TONBELLER AG develops and implements standardized and individual solutions against financial and white-collar crime and for risk management and monitoring, analysis, and reporting. This expertise helps organizations comply with regulations in accordance with the company's strategy and its efficient risk management and secures competitive advantages. The combination of innovative software technology, excellent consultancy and first-class customer support, creates high-performance GRC applications that prove their efficiency at more than 1000 customers from the most stringently regulated industries. The global partner network makes TONBELLER solutions and expertise available in over 90 countries. For further information, point your browser to

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