Fighting crime and abuse Renaissance

Renaissance Capital previously used a number of manual checks and processes to monitor transactions, but these methods were too complicated, time consuming and insufficient for auditing purposes, so they decided to install Actimize’s AML and market abuse solutions, giving them one compliance platform and better oversight. “After conducting due diligence on ten vendors, we chose Actimize, since it provides the best overall solutions for our requirements,” explains Alexey Klepikov, project manager at Renaissance Capital. “Our business processes and trading schemes are different from those of typical banks and can present challenges when tracking suspicious activities. However, as a result of Actimize’s experience with dozens of other institutions, we managed to test the solution on site in a week, early in the selection process, which ended with us benefiting from a fully-functioning Actimize solution within five business days.”

Founded in 1995, Renaissance Capital is a Moscow-based investment bank, delivering financial and investment solutions to government, corporate and institutional clients in high-opportunity emerging markets around the world. It has expanded significantly into other emerging markets, with a presence in Sub-Saharan Africa, the Middle East, Russia and the CIS (Commonwealth of Independent States). The firm also offers its clients access to these markets through financial centres such as London and New York.

“Working on a single risk platform makes it easy for our compliance staff to track and monitor alerts. If there is a compliance issue we definitely know about it,” added Klepikov. “We needed to implement a rigorous Market Abuse solution to keep us in compliance with the newly introduced Russian requirements. Actimize’s single platform makes this relatively simple to deploy and provides us with the insight and knowledge that we require.”

Actimize’s solutions enable compliance and risk managers to manage a complete surveillance program on a single platform. The AML solution addresses requirements such as those defined in the Third Money-Laundering Directive, from account opening, watch list filtering and activity monitoring, to case management, oversight and reporting. The Market Abuse solution monitors and detects dozens of different issues from potential market manipulation and insider dealings to other market abuse issues, and automatically generates alerts. The system uses several analytical methods to assign priority scores to alerts, thus improving the efficiency of regulators, trading managers and compliance staff. Built on a single, integrated platform, the Actimize solution enables institutions to add additional different compliance and fraud solutions over time, while retaining the same analytical tools, data layer, investigation and case management interface, dashboard, audit tracking and other functions.