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Customer Story

Improved efficiency thanks to comparison of processes

In banking, IT must be able to implement changes in regulations quickly. This was also the challenge faced by Deutsche Bank, which made its IT fit with the help of Trivadis.

In Short

CHALLENGE

Implementation of regulatory requirements under enormous time pressure.

SOLUTION

Use of internal and external data for process optimization.

BENEFIT

Lower costs per case through process automation.

Our Solution

More and more often in recent years, financial service providers have had to adjust their IT systems and processes as a result of stricter regulations. For example, in the anti-financial crime area, the Money Laundering Act has been extensively amended three times by EU legislation since 2012. The challenge for banks is that the transformation of EU requirements into national law by the Federal Financial Supervisory Authority (BaFin) in Germany and the associated renewals of the application and interpretation instructions by the German Banking Industry Committee are usually only finalised shortly before the regulations come into force.

GAP analysis reveals process gaps

Trivadis performed an analysis for Deutsche Bank (Private and Business Clients division) to establish where and what gaps existed in the implementation of the money laundering regulations with regard to the processes for new customers and the verification of existing customers. As part of the GAP analysis, the regulator’s consultation papers, the resulting global policies at Deutsche Bank and the existing KYC processes were compared. Together with the relevant departments and client project teams, implementation variants were successfully developed and agreed upon for the necessary process and system changes discovered in the account opening process and KYC review. In doing so, emphasis was placed on efficiency both internally and externally towards the customer (video identification, data purchasing). Specifications for IT adjustments were created from the big picture obtained in this way and their implementation was monitored. Process adjustments were also implemented in the front, middle and back office, work instructions and manuals were adapted and training sessions were carried out as part of the roll-out.

Trivadis is a valuable bridge builder between the department and IT. This ensured efficient cooperation between these two areas. Combined with innovative ideas, these were the guarantees of success for the implementation of the time-critical compliance projects.

Frank Kühn, Vice-President, Deutsche Bank AG

Timely implementation thanks to efficient cooperation with Trivadis

With Trivadis’ support, it was possible to adhere to the very tight schedule and implement all the projects on time. Trivadis impressed with:

  • in-depth process knowledge in the areas of customer onboarding and know your customer (KYC), especially for corporate customers
  • very good knowledge of data storage and modelling as well as process modelling
  • a good market overview in the area of data providers (such as SCHUFA, creditreform, bisnode)
  • numerous ideas on how processes can be implemented more efficiently in the digital age
  • an ability to identify with the customer’s objectives, commitment and very good communication and moderation skills, even in stressful and conflict situations

ABOUT DEUTSCHE BANK AG

Deutsche Bank offers a wide range of financial services - from payment transactions and lending business to investment consulting and asset management, as well as a focused capital market business. It serves private clients, medium-sized companies, corporate groups, the public sector and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.

Technology used

  • Consulting

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