Triodos Bank Selects NetEconomy to Protect Against Financial Crime
The Hague, The Netherlands - February 11, 2008
NetEconomy, the global leader in financial crime management and compliance solutions, and a business unit of Fiserv, Inc. (NASDAQ:FISV), today announced that Triodos Bank has chosen its Compliance Manager financial crime solution. NetEconomy’s system will help Triodos to improve and automate watchlist checking, Know Your Customer (KYC) procedures, and monitoring of customer behavior and financial transactions to mitigate fraud, money laundering and terrorist financing activity.
Established in 1980, Triodos Bank finances companies, institutions and projects that add cultural value and benefit people and the environment, with the support of depositors and investors who want to encourage corporate social responsibility and a sustainable society. Triodos offers a range of banking services for its customers including savings, investment and asset management, private banking, payment services, lending and insurance. NetEconomy’s Compliance Manager solution will monitor Triodos customers across these product lines within a hub environment covering Germany, Spain, the United Kingdom, Belgium and the Netherlands to identify and report suspicious activity.
“After a thorough evaluation, we felt that NetEconomy was the best fit for Triodos Bank. We selected NetEconomy for the flexibility and robustness of its solution, and also the responsiveness and vast compliance and financial crime experience of its staff,” said Albert Hollander, Group Legal & Compliance Officer of Triodos. “We are confident that together with NetEconomy’s skilled team and configurable future-proof solutions we can prepare for any new regulatory changes or requirements while at the same time continue to safeguard our customers and our organization.”
“We are extremely pleased to be selected by a bank whose mission is to enable individuals, institutions and businesses to use money more consciously in ways that benefit people and the environment,” said Peter Kwakernaak, chief commercial officer of NetEconomy. “Delivering our industry-proven solution to a financial institution like Triodos, is an honor and privilege for NetEconomy. We look forward to our work together to implement a premier solution to minimize regulatory risk and fight the threat of financial crime across their complex environment.”
About Triodos
Triodos Bank, with offices in the Netherlands, Belgium, the United Kingdom and Spain, and an agency in Germany, has always been, and remains, about transparency and the realization of social, environmental and cultural objectives in day-to-day banking. This integrated approach has been fundamental to the Bank since it was established in 1980. Triodos Bank has been a pioneer and still is a leading innovator in sustainable banking. Triodos Bank only finances enterprises which add social, environmental and cultural value - in fields such as renewable energy, social housing, complementary health care, fair trade, organic food and farming and social business. Triodos also finances fair trade and microcredit organizations in developing countries. They do this with the support of depositors and investors who wish to contribute to social justice within the context of a more sustainable economy. For more information please visit www.triodos.com.
About NetEconomy
NetEconomy, based in The Hague, with offices in London, Paris, Boston, New York, Sydney, Shanghai and Kuala Lumpur, Malaysia, and distributors and strategic partners across South Africa, Australia, Europe, Southeast Asia and the United States, is the leading provider of financial crime management and compliance solutions. With more than 150 implementations across 60 countries, NetEconomy brings business value to its worldwide client base through its personalized customer approach for minimizing regulatory risk, delivering measurable results and protecting corporate brand and reputation. For more information, please visit www.neteconomy.com. For more information on NetPractice, visit www.netpractice.org.
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For more information contact:
Alison Holland
Director, Worldwide Marketing
NetEconomy
aholland@neteconomy.com