Saxo Bank, a Denmark-based provider of online trading and investment services, has selected Nice Actimize's anti-money laundering (AML) suite, to support its growth plans over time as well as adapt to changing regulations.
The suite of products to be deployed at the Saxo Bank include Actimize Suspicious Activity Monitoring, Know Your Customer/Customer Due Diligence and Watch List Filtering solutions.
Nice Actimize said that Saxo Bank will have a fully automated enterprise-wide platform supporting the bank’s AML strategy and compliance, following the completion of the deployment across the bank’s operations in Denmark and across its European and Asian businesses.
Nice Actimize added that Saxo Bank is currently acquiring E*Trade’s Nordics operations, which includes client accounts in Denmark, Iceland, Finland, Estonia, Latvia, Lithuania, Sweden and Norway.
Henrik Alsoe, senior vice president at Saxo Bank, said: “Saxo Bank required an AML platform that is flexible enough to grow quickly with the firm as it expands into new regions and businesses. The Nice Actimize solutions provide us with the best out-of-the-box AML coverage and the flexibility to grow with our firm over time as well as adapt to changing regulations.”
Bruno Piers de Raveschoot, managing director and head of Nice Actimize Europe and Asia Pacific, said: “We are very happy to add Saxo Bank, a pioneering firm in Northern Europe, to our client base by providing them with our full suite of AML solutions designed specifically for the securities industry.”