SIA Central Europe, the Hungarian subsidiary of SIA (European leader in financial services and payments systems), has teamed up with Tonbeller to help Hungarian organizations in their compliance initiatives to grant the investor care and to deal with developments and impacts of the anti money laundering (AML) and counter terrorism financing (CTF) legislations.
SIA Central Europe and TONBELLER will support banks, insurances, financial service providers and other organizations like lawyers, notaries and others who are obliged to comply with Hungarian regulation requirements in the area of financial crime prevention. Both companies offer innovative services as well as the SIA-EAGLE for capital markets compliance modular solution from SIA (market abuse, MiFID, conflict of interests and personal dealing management) and the Siron Compliance Solutions portfolio from TONBELLER including modular, integrated software for anti-money laundering, counter terrorism financing, fraud detection as well as managing the initial risk rating during customer acceptance (Know Your Customer - KYC principle).
The broad national experience of SIA Central Europe (the hub of the SIA Group in the region and also the "competence center" for ATM and POS terminal management and transactions switching and for the capital markets compliance) paired with TONBELLERs AML solutions portfolio and international experience (with over 1.000 installations in 50 countries), leverages high synergies.
This collaboration gives customers and interested parties the possibility to quickly put a reliable, cost-effective and highly automated solution in place that complies with the regulations, provides protection from sanctions and frees the responsible departments and employees from manual work. It enables companies to effectively counter new developments in money laundering, capital markets fraud and other financial crimes.
SIA Central Europe and TONBELLER today jointly hold a conference in Budapest on compliance focused on "Financial crime prevention" to start their initiative and to inform compliance officers and all other interested parties on the latest industry topics and innovations in financial crime prevention. Guest speakers from Deloitte, OTP Bank and Unicredit Bank Hungary gave a detailed insight on the latest developments in the financial sector focusing on risk assessment, market surveillance and the fight against financial crime. Business cases, best practices, practical examples and regulatory updates that come along with their daily works were presented.
"We are very pleased to expand the cooperation with TONBELLER to Hungary and the region, particularly in the range of products and services of anti-money laundering. This is part of a broader initiative to strengthen our presence in this strategic area. In addition to the traditional businesses of card processing, payment and networking services, we are now placing great emphasis on the area of compliance, focusing on our solutions and others from market leaders, such as TONBELLER's ones" stated Fabrizio Canedoli, CEO of SIA Central Europe Zrt.
"Our Compliance solutions help organizations in streamlining processes, lowering operating expenses and comply with the national laws and regulations effectively. Leveraging from our long-term experience and numerous projects worldwide we are looking forward to teaming up with SIA Central Europe that has broad knowledge to help customers improve their compliance processes faster and achieve their business goals," stated Torsten Mayer, Managing Director of TONBELLER AG.