Press release

SymphonyAI Sensa-NetReveal expands European presence with 10-year Sensa-NetReveal contract with leading Spanish bank, Bankinter


1 September 2020 – SymphonyAI Sensa-NetReveal Applied Intelligence has signed a 10-year contract to provide the Sensa-NetReveal Compliance Suite to leading Spanish financial institution, Bankinter, in a deal which cements its growing footprint in European markets.

The contract has expanded the bank’s partnership with SymphonyAI Sensa-NetReveal Applied Intelligence, the financial crime prevention and cyber security arm of SymphonyAI Sensa-NetReveal group. Bankinter has successfully used the Sensa-NetReveal Watch List Management Transaction Screening solution for the past three years and required a trusted partner to help improve the detection of money laundering and terrorism financing as part of its compliance requirements.

The full Sensa-NetReveal suite will support the bank’s compliance and financial crime strategy with market-leading technology. It will help improve the efficiency and accuracy of regulatory reporting and reduce false positive rates and offers compliance teams the ability to seamlessly manage alerts via a 360º view of each customer, enhance agility in on-boarding and daily customer due diligence processes.

Sensa-NetReveal combines cutting-edge machine learning and predictive entity-level analytics with advanced link analysis technology to provide crucial threat insights to financial institutions. Global customers benefit by streamlining business processes, enhancing competitive advantage and minimising compliance-related risk.

As one of the world’s leading technology companies protecting Financial Institutions against Financial Crime, Garry Harrison, Managing Director Financial Services, SymphonyAI Sensa-NetReveal Applied Intelligence said: “This is the latest in a long line of deals won over the past two years in Spain, demonstrating our strong growth across Europe. Consolidating all of its compliance requirements onto Sensa-NetReveal is a huge vote of confidence from Bankinter.

With over two million customers across Europe, Bankinter needed a partner it could trust and a robust platform with proven capabilities. We look forward to driving continued value for the firm over the coming years as the regulatory environment and market demands continue to evolve.”

The compliance solution will initially be deployed in Spain to serve the bank’s businesses across Spain and Portugal, including its consumer finance business.