Case Study: DEVK achieves AML compliance and reputation protection with FICO TONBELLER Siron®AML

DEVK beats the compliance deadline

DEVK, a decentralized German insurance company with legacy systems across 19 regional offices, faced a major anti-money laundering (AML) compliance challenge after new life-insurance regulations required a risk-based approach. To meet the deadline and properly identify potential money laundering and terrorist financing risks, DEVK turned to FICO TONBELLER and its Siron®AML solution.

FICO TONBELLER adapted Siron®AML to DEVK’s insurance-specific risks and complex IT landscape, completing the project in just six months instead of the planned nine. The solution reduced costly manual processes, enabled DEVK to comply with the 21 August 2008 law on time, and helped protect the company’s reputation while laying the groundwork for future fraud detection.

DEVK

Jürgen Klein

Anti-Money Laundering Officer