TONBELLER AG Extends Solution Portfolio With Siron Know Your Customer to Fight Financial Crime and the Financing of Terrorism

By Tonbeller Ag, PRNE
Wednesday, January 19, 2011

BENSHEIM, Germany, January 20, 2011 - TONBELLER adds Siron Know Your Customer (KYC) to its Siron
compliance solutions portfolio. SironKYC supports financial institutions in
complying with local and international laws and regulations to ensures
compliance with legal and risk assessment requirements for new and existing
business relations also known as Customer Due Diligence (CDD). The
regulations according to the KYC-principle are incorporated in guidelines and
laws, such as US Patriot Act or 3rd EU-Money-Laundering-Directive.

SironKYC covers the entire process of new customer acceptance
from standardized electronic input of customer data, automated matching with
PEP and embargo lists generating a customer risk rating and may easily be
integrated in the existing infrastructure. Based on easy to create and
flexible questionnaires for customer acceptance, SironKYC enables compliance
with legal requirements to risk rate a customer and perform the appropriate
due diligence for the business relationship. This analysis is done in
real-time during customer acceptance and leads to specific instructions for
account managers dealing with potential customers.

Once the customer acceptance has been completed, it gives the
financial institution the capability to continuously monitor the requested

SironKYC provides the possibility for immediate risk
assessment of the new customer. The information on person and business
relation supplied by customers can be compared with their actual behavior. If
customer behavior shows a significant deviation compared with the stated
behavior during customer acceptance, the risk classification can
automatically be increased notifying the compliance department to perform
Enhanced Due Diligence (EDD). SironKYC can either be used stand-alone or
could be integrated with Anti Money Laundering or Anti Fraud solutions like
SironAML and SironFD.

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    Press contact:

    Martin Gwisdalla
    Tel: +4962517000412

Martin Gwisdalla, Tel: +4962517000412, Martin_Gwisdalla at

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