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Dominion deploys its ‘Alert’ solution in the new online bank Orange Bank to prevent money laundering and funding of terrorism

19 December, 2019
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Dominion has participated in the project to implement Alert, a comprehensive tool to prevent money laundering and the funding of terrorism (PBCyFT) in Orange Bank, the new mobile bank operating in Spain.


Alert is a RegTech solution for the banking, finance and insurance sector that optimizes the regulatory and monitoring processes that banks need to carry out with their clients.

Dominion’s ‘Alert’ solution has been incorporated into the client registration process in the platform of Orange Bank. It gives an immediate and secure solution, checking to see if a potential client is on international public lists of sanctions/PEPs (persons with public responsibilities) and the level of risk of money laundering. This integration has meant a reduction of time and risks that compliance with the regulatory requirements represents for the sector. Furthermore, Alert monitors the transactions made by clients to detect potentially suspect money laundering operations and facilitates the reporting process to SEPBLAC, the Spanish financial intelligence unit responsible for preventing money laundering.

“Our solution is a security element that acts right from the moment when a client is registered online. It makes a number of security checks in a matter of milliseconds and monitors all their activities to generate alerts about situations that could be suspected of illicit activities”, explains Eduardo Gómez-Escalonilla, Head of the Digital Transformation area of RegTech in the financial sector.

According to Eduardo, the partnership with Orange Bank to launch the new 100% mobile bank in Spain has been “a very big challenge” for Dominion, which has adapted to its client’s online needs to implement the Alert technology.

Alert is a Dominion product that is part of a comprehensive range of digital solutions for the finance and insurance sector and is applicable to both back and middle office business processes. The aim is to be a partner to this kind of client in its digitisation processes.

Dominion is an expert technology company specialized in providing digital transformation services across the board, covering sectors such as banking, healthcare, industry or infrastructures. It makes its clients’ business processes more efficient through ad hoc solutions and specialized digital products.


Categories: Corporativo & Inversores