How Videris has supported Danske Bank’s Financial Crime Compliance programme

Introduction

In order to strengthen financial crime detection, prevention and investigation capabilities, Danske Bank wanted to improve OSINT (Open Source Intelligence) investigation capabilities to support suspicious activity report investigations. 

The Challenge

Previously, OSINT was performed by investigators utilising manual Google searches to collect relevant information. This process limited investigators’ access to data and produced inconsistent results, which in turn affected the ability to identify all potential risks a customer posed to the Bank.

The Solution

Danske Bank partnered with Blackdot Solutions to implement Videris to enhance the existing OSINT capabilities available to the Bank. Videris offers a holistic OSINT solution for investigations – bringing together multiple open source datasets including; 

• Search engine results, 
• Global corporate records and,
• Sanctions and PEP watchlist data.

Additionally, Videris enables investigators to search for and collate OSINT data in a single location and analyse it using inbuilt analysis and visualisation tools. Videris also provides a secure, collaborative, auditable and anonymous environment to perform open source research, enriching the Bank’s OSINT investigation process to ensure risks can be more easily identified.

“Videris has supported strengthening of our Financial Crime investigation function by providing us with more enhanced OSINT capabilities that enable our investigators to identify risks faster” – Marjo Pikkukangas, Group Head of Suspicious Activity Reporting

The Benefit

The benefits delivered to Danske Bank through the use of Videris include;

• Improved identification of risks: By providing investigators with access to a wide range of open source data sets and enhanced analysis capabilities, they are able to identify previously unknown risks and assess the impact these risks may have quicker,

• Single platform: Investigators can perform an entire OSINT investigation in single tool and collaborate with other investigators on the same case across teams – thereby streamlining both the time taken to complete an investigation and improving the depth of investigations,

• Increased efficiency and effectiveness: Videris automates time-consuming manual processes, whilst still allowing the investigator to identify key points of interest and make investigation strategy decisions (i.e.: what information to research further, when, etc.) more efficiently and effectively.

About Danske Bank

Danskebank.com