ComplyRadar Testimonial – European Merchant Bank


Currently, the European Merchant Bank has 38 employees, with 4 dedicated to compliance. The European Merchant Bank is a banking institution registered in Lithuania, serving SME’s and Fintech companies among others.  We caught up with Franco Celis to find out how our ComplyRadar software improved their operation.

How did you find out about ComplyRadar?

The bank was looking for a sanction screening and transaction monitoring tool in the market. ComplyRadar was referred to us by a contact.

How did you go about evaluating and comparing transaction monitoring solutions?

The bank was looking for an optimal solution and had a target to find a dedicated tool which allows the bank to perform transaction monitoring in terms of the amount of thresholds and scenarios and also to integrate sanction screening lists to the transactions and customers.

What was on your wish list for the preferred solution to assist with?

We wanted our sanction screening and transaction monitoring integrated in one solution. Sanction list providers in the market only offer the lists but the lack of middleware between the bank systems and the lists from the vendors make ComplyRadar unique.

How would you describe the support your business received from our team in the initial stages from first contact to signing of contracts?

The company had an excellent disposition to accommodate our needs, creating interfaces between systems and going beyond. We maintained a close relationship throughout, with clear communication that led to a swift understanding between both parties, making integration of ComplyRadar easy and swift.

What problems did ComplyRadar solve for your business and how did the implementation affect your business?

As an all-in-one solution, ComplyRadar solved a lot of issues for us which is essential for our AMLCTF duties. Integration of Core Banking, Sanction Screening Lists, SWIFT and SEPA payments and our customer database, allowed the bank to have a simple approach to a complex task. This affected our business positively, simplifying AMLCTF staff training as they only now need one tool to do everything that is required.

How was your experience during the implementation?

Implementation was a very positive experience, the staff from ComplyRadar was always helpful and willing to solve issues and incidents promptly. The high approachability of ComplyRadar staff is extremely helpful when looking to shorten implementation timeframes.

How do you use ComplyRadar within your business?

Transaction amount and scenarios monitoring, Sanction Screening of Transactions (SWIFT and SEPA) and Customer database periodic screening.

What is your favorite feature within the ComplyRadar Solution?

My favourite feature would be the Customer Information Screen, which brings the basic customer information from the core banking system, allowing us to have all the information we need without logging into the core banking system.

Did you have any hesitations about buying ComplyRadar? Did the solution resolve these hesitations?

The main driver in choosing Complyradar was to find an all in one solution, today the market has different tools for each task separately (Transaction Monitoring, Sanction Screening on transactions and customer database), we were confident to choose ComplyRadar.

Would you recommend ComplyRadar to clients or business contacts of yours?


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