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Governance, Risk and Compliance (GRC) solutions offer a broader view of Anti-Money Laundering (AML) checks and the level of compliance with the law. However, most companies lack the enterprise-wide standards and protocols to identify policies, processes, and redundancies for a transparent system and orchestration of critical activities in GRC domains. Furthermore, regulatory divergence and concerns associated with cybersecurity and privacy have led to inefficiencies and conflicts in critical risk and compliance activities. To help companies combat financial crimes, Dixtior, a Portuguese consultancy firm, is merging two key components - economics and information technology. The company’s Dixtior Compliance Solution AML (DCS) in combination with its team’s modern business management techniques and innovative organisational structures, deliver a tailored solution to help clients define and meet long-term strategic objectives.
In a bid to curb money laundering practices, DCS analyses and assesses all transactions made by a financial institution and issue alerts whenever suspicious activity is detected. The DCS adapts to each client’s AML (anti-money laundering) context and analyses data to develop models that are specifically tuned to the markets in which they operate.
With the ongoing COVID-19 pandemic, financial institutions are left without a blueprint. Not only do they have to tackle the challenge of internal risk management, compliance and AML processes but also navigate their customers through an unprecedented time while adapting to a work-from-home setting. Furthermore, the number of online transactions, new online users and devices has increased, which makes identifying risk harder. “We offer clients a holistic view of all their data and processes by breaking-down disparate silos and enabling them to understand the broader picture of their issues,” says Rui Vicente, CEO of Dixtior.
To further illustrate the Dixtior’s efficacy, Rui Vicente narrates a case-study, where one of the largest banks of Angola - the Banco de Fomento Angola (BFA) approached them for assistance. As a country who is dependent on oil economy and the USD—the restrictions enforced by the USA and VISA, resulted in banks of Angola such as the BFA struggling to acquire the currency. With help from Dixtior, BFA is now one of the most sought-after banks that can provide USD to its clients and can keep a check on all transactions in real-time. Two years post collaboration, BFA has undergone various audits from third-party companies such as VISA, Central Bank of Angola and FIU proving to be compliant with all standard regulations of operations. Since the inception of the company in 2013, Dixtior has established a strong presence in three continents - Europe, Africa and Asia. Dixtior was founded in 2013 by Rui Vicente, Mário Oliveira and Sónia Silva, all of whom have extensive experience in the field of banking, computer engineering and management informatics respectively. This diverse background of its founders has allowed the company to continually evolve and garner the ability to provide a solution with specialised business consultancy and state-of-the-art technology. “Our main goal is to keep evolving our solution – DCS to check the dynamic malpractices in the financial world and to be on top of the request of every prominent client in the market,” concludes Vincente.
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Company
Dixtior
Headquarters
Lisbon, Portugal
Management
Rui Vicente, CEO
Description
A Portuguese consultancy firm, Dixtior’s Compliance Solution in combination with its team’s modern business management techniques and innovative organisational structures deliver a tailored solution to help clients define and meet long-term strategic objectives.The company founded in early 2013 by three professionals with extensive experience in areas different Rui Vicente - banking and financing, Mário Oliveira - computer engineering and Sónia Silva - management informatics. Since the inception of the company in 2013, Dixtior has established a strong presence in three continents - Europe, Africa and Asia