Banco Português de Negócios

Banco Português de Negócios (BPN, Portuguese Bank of Business) implemented a K2-based solution to fight money laundering and to ensure compliance with banking regulations.

The system efficiently delivers information about suspicious operations and transactions to all the users and branches of the institution — more than 1,000 BPN employees.

Anticipating changes in the anti-money-laundering legal and regulatory framework, BPN realized the need to promptly find a solution that would monitor and alert employees about suspicious behaviours and transactions made by its clients.

BPN needed an intelligent system that could analyze customer and transaction data, start and carry out automated workflow processes, and provide confidence.

The solution needed to integrate with entrenched systems and practices, and the learning curve for users had to be quick.

BPN was one of the first in the country to adopt an evolutive anti-money-laundering platform.

Based on K2 software, the solution is intelligent — it learns client behaviors, compares them to past behaviors, sends an alert regarding suspicious activity and redirects the alert to someone else if it isn’t answered in a timely manner.

BPN’s solution provides immediate access to data that was difficult and time-consuming to obtain in the past, and it allows custom reports to be created on that information.

The K2-based solution ensures compliance to new banking legislation, regulated by Banco de Portugal (Portuguese Central Bank).
Having a system in place to prevent money laundering is perceived well by clients and customer loyalty and confidence are boosted.

The K2-based solution was chosen, not only because it met all the project’s requirements, but also because it integrated quickly with BPN’s existing systems and required little training.