--- title: DB Wealth Management Taps Finantix for Compliance description: The firm expects to turn much of the KYC process over to the AI-based platform. image: https://articles.marketsmedia.com/hubfs/Imported_Blog_Media/iStock-510674920-May-12-2022-09-32-59-93-AM.jpg --- ![websites-group](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/new-MMG-01.svg) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-new-marketsmedia-logo.svg)](https://www.marketsmedia.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-traders-redlogo.svg)](https://www.tradersmagazine.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-bestexe-logo.svg)](https://www.bestexecution.net/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-menu-fidesk-logo.svg)](https://www.fixglobal.com/) [![](https://articles.marketsmedia.com/hubfs/raw_assets/public/MarketsMedia_August2021/images/dropdown-fixglobal-new-logo.svg)](https://www.fixglobal.com/) - [*Facebook*](https://www.facebook.com/MarketsMedia/) - [*Twitter*](https://twitter.com/marketsmedia) - [*Linkedin*](https://www.linkedin.com/company/markets-media-llc) - [Newsletter](https://articles.marketsmedia.com/db-wealth-management-taps-finantix-for-compliance#popup-newsletter) #### Want the latest news on securities markets -- FREE? 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The wealth management business of Deutsche Bank AG chose Finantix technology to enhance the gathering, organization, and analysis of customer information during the KYC processes. This will enable greater human focus on qualitative analysis and exception handling, further strengthening the client due-diligence function. The bank has implemented the Finantix KYC Solution in Germany, its largest wealth management center, and will next roll it out across the US. Jan Wohlschiess, Chief Operating Officer, Chief Financial Officer and Head of IT and Operations at Deutsche Bank Wealth Management, said: “By using the latest AI-empowered technology from Finantix we will be able to automate much of our current data collection, ensuring rigorous compliance checks while making better use of our human talent in analyzing and investigating the results. Crucially, we will be able to further improve the quality of our controls and risk management while giving our clients a more efficient and smoother onboarding experience.” Core to the Finantix KYC Solution is an innovative, designed-for-purpose and widely adopted engine developed in collaboration with smartKYC, which offers true multi-language, natural language processing (NLP) AI-powered technology specifically framed for regulatory purposes. The Finantix KYC product is able to aggregate, distill and classify by relevance and risk level almost all available individual or company KYC accessible data and content. It does this at high speed, using multiple sources, internal and external, in different formats, structured and unstructured, and across any language. The application will include screening for adverse news and background information on clients and prospective clients to create their detailed profile. After aggregation, regulatory domain-specific yet configurable rules will extract and classify key information to enable the bank’s KYC teams to carry out detailed risk assessments. Alessandro Tonchia, Co-founder and Director of Finantix, said: “The KYC process is becoming increasingly costly, repetitive and laborious, especially in the world of private banking where customer service needs to be outstanding. We are delighted to be supporting the team at Deutsche Bank Wealth Management where this project will deliver an enhanced experience for both the bank’s clients and its KYC teams.” [Share](https://www.facebook.com/share.php?u=https://articles.marketsmedia.com/db-wealth-management-taps-finantix-for-compliance) [Tweet](https://twitter.com/intent/tweet?text=US+ETFs+Have+Record+Net+Inflows&url=https://articles.marketsmedia.com/db-wealth-management-taps-finantix-for-compliance) [Share](https://www.linkedin.com/cws/share?url=https://articles.marketsmedia.com/db-wealth-management-taps-finantix-for-compliance) ![email](https://articles.marketsmedia.com/hubfs/Markets%20Media/email.svg) ### NEWSLETTER SIGN UP And receive exclusive articles on securities markets ### Related articles 1. 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