Press release

Confinale enters into partnership with RegTech provider ACTICO

Zurich, Oct 2019

The headlines make it clear that there is no end in sight to the banking sector’s ongoing fight against major issues like money laundering, insider dealing, terrorism financing and sanctions circumvention. Banks have invested significantly in their IT systems and processes over recent years to address these difficult challenges. However, those involved in financial crime haven’t been lazy either, and often also use cutting-edge technologies and methods themselves. And regulatory bodies are imposing increasingly rigorous requirements. Now more than ever, banks need to invest in digitising their approach to compliance and beefing up the systems and processes which they use to combat financial crime. In doing so, the banking sector is well advised to make use of the latest technology to cover a wide range of regulatory requirements while maximising automation and integration. This technology also needs to be flexible enough so that it can be adapted to the needs of individual banks in a transparent manner.

The Swiss based company Confinale AG already has just under 70 employees. In addition to other areas, the company focuses on advising banks on developing and integrating compliance solutions. It does this using both products which are developed in-house and third-party solutions. “We use partnerships whenever a third party already has an impressive and established solution on the market,” explained Dr. Jonas Misteli, Partner at Confinale. In line with its strategy, Confinale recently entered into an implementation partnership with ACTICO, a company based in Immenstaad at the Lake Constance, Germany. The ACTICO Compliance Suite is a highly automated RegTech tool which meets the banking sector’s demanding requirements when it comes to integrated solutions. The Compliance Suite comes with standard rule-sets. It can be calibrated to meet a wide range of requirements and provides a high level of transparency. The Compliance Suite also applies new technologies like machine learning alongside standard rules to optimise reports and improve accuracy. External data streams can be easily integrated, and standard adapters are already available for certain core banking systems, such as Avaloq.

RegTech is here to stay, and is playing an increasingly important role in improving the quality and increasing the efficiency of compliance processes. Confinale has already integrated ACTICO’s Compliance Suite into the IT systems of a number of banks. “The experience we have gained from these exciting projects means that we are perfectly placed to provide advice and implement these systems for banks, which up to now have taken a fairly disconnected approach to compliance issues. The Compliance Suite is a product which meets the standard for a modern, highly automated RegTech solution which can be integrated into a bank’s existing IT setup. That’s why we are convinced that our partnership with ACTICO is a perfect match for our strategy and will allow us to provide added value for our clients”, explains Jonas Misteli.

As a software manufacturer, ACTICO also believes that this partnership is a sustainable model, as Thomas Knöpfler, ACTICO's General Manager and Chief Sales Officer, explained: “Our partnership with Confinale is a successful approach to implementing compliance projects for banks with a high level of quality, speed and reliability.”