{"id":5370,"date":"2019-07-04T14:57:44","date_gmt":"2019-07-04T14:57:44","guid":{"rendered":"https:\/\/fintech.global\/AIFinTechForum\/?p=5370"},"modified":"2019-07-04T14:57:44","modified_gmt":"2019-07-04T14:57:44","slug":"deutsche-bank-wealth-management-to-implement-finantixs-kyc-solution","status":"publish","type":"post","link":"https:\/\/fintech.global\/AIFinTechForum\/deutsche-bank-wealth-management-to-implement-finantixs-kyc-solution\/","title":{"rendered":"Deutsche Bank Wealth Management to implement Finantix\u2019s KYC solution"},"content":{"rendered":"<p><strong>Deutsche Bank Wealth Management has selected software builder Finantix to help enhance its client onboarding and KYC processes.<\/strong><\/p>\n<p>The wealth management division of Deutsche Bank will implement Finantix software to enhance the gathering, organisation and analysis of customer information during the KYC process. This will improve qualitative analysis and exception handling of the human reviewers, bolstering due diligence capabilities.<\/p>\n<p>Initially, the software has been deployed across the German operations and plans are to release it in the US unit in the future.<\/p>\n<p>Finantix KYC Solution was designed in collaboration with smartKYC and provides AI-powered multi-language, natural language processing to verify users. The solution aggregates, distils, and classifies by relevance and risk level of all available individual and company KYC data and content. This is completed by monitoring multiple sources, both internal and external, as well as structured and unstructured data.<\/p>\n<p>The application includes the screening of adverse news and background information on clients and potential clients and builds a detailed profile on them. After this, the platform will extract key information needed for detailed risk assessments.<\/p>\n<p>Deutsche Bank Wealth Management COO Jan Wohlschiess said, \u201cBy using the latest AI-empowered technology from Finantix we will be able to automate much of our current data collection, ensuring rigorous compliance checks while making better use of our human talent in analysing and investigating the results.<\/p>\n<p>\u201cCrucially, we will be able to further improve the quality of our controls and risk management while giving our clients a more efficient and smoother onboarding experience.\u201d<\/p>\n<p>Deutsche Bank has had a number of challenges this year. Last month, it reportedly found \u2018serious\u00a0<a href=\"http:\/\/member.regtechanalyst.com\/deutsche-bank-reportedly-found-failings-in-its-cheque-screening-processes\/\">failings within its payment screening and AML procedures.<\/a><\/p>\n<p>The month before, the bank came under fire from the US federal financial crime watchdogs for\u00a0<a href=\"http:\/\/member.regtechanalyst.com\/deutsche-bank-reportedly-fails-to-report-suspicious-transactions-involving-donald-trump\/\">not reporting suspicious transactions<\/a>\u00a0involving Donald Trump and his son-in-law Jared Kushner.<\/p>\n<p class=\"highlight\">Copyright \u00a9 2019 RegTech Analyst<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Deutsche Bank Wealth Management has selected software builder Finantix to help enhance its client onboarding and KYC processes. The wealth management division of Deutsche Bank will implement Finantix software to enhance the gathering, organisation and analysis of customer information during the KYC process. This will improve qualitative analysis and exception handling of the human reviewers,&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/fintech.global\/AIFinTechForum\/deutsche-bank-wealth-management-to-implement-finantixs-kyc-solution\/\" class=\"gdlr-info-font excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":10,"featured_media":5371,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Deutsche Bank Wealth Management to implement Finantix\u2019s KYC solution - AI in Financial Services Forum<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fintech.global\/AIFinTechForum\/deutsche-bank-wealth-management-to-implement-finantixs-kyc-solution\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deutsche Bank Wealth Management to implement Finantix\u2019s KYC solution - AI in Financial Services Forum\" \/>\n<meta property=\"og:description\" content=\"Deutsche Bank Wealth Management has selected software builder Finantix to help enhance its client onboarding and KYC processes. 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