Rui Vicente, CEO, DixtiorRui Vicente, CEO
The volatile operational workflow and lack of effective countermeasures in the banking and financial services sector present hackers and other fraudsters with an opportunity to engage in money laundering and terrorism financing. Viewed as a serious offence by the Financial Action Task Force (FATF), countries found to have many such transactions within their banking ecosystem run the risk of being placed on a grey list. With member states in the European Union and the US, especially, keeping a watch on these statistics and figures, it increases the chances of them denying transactional business services with those regions. The adverse effect of this type of blocking can also cause critical repercussions to the overall national economy.

Working with the Angolan government, Dixtior, a governance, risk, and compliance (GRC) solutions and services provider helped banks and financial institutions across the region to avert such threats. Building from scratch, Dixtior delivered the first technology implementation that could be accessed and scrutinized by international players in the banking world. Two years in active service, Angola was removed from theFATF grey list, and presently banks and financial institutions can negotiate with other countries with more transparency and trust.

As banks adjust to the nuances of new types of digital payment services and other similar applications, Dixtior’s team of experts can offer credible advice that allows for the quick adoption of assistive technology within banking IT environments. The Dixtior Compliance System (DCS) enables users to monitor every type of financial transaction in their business operations in real-time and receive accurate statistics to quickly analyze whether it is a valid or fraudulent account transfer. “One of our main advantages is the ability to provide insights in milliseconds for any type of transaction from a simple ledger entry to SWIFT authentication,” says Rui Vincente, CEO of Dixtior.
A full financial crime compliance solution, DCS goes from onboarding to section monitoring to reporting to authorities from different regional authoritative boards. The solution was designed in a way that can be adapted to each region and challenges that different countries or client may face. DCS offers complete coverage and integration with in-house databases for users to monitor their transactions and submit reports to authorities in case of an identified anomaly. As there can be several points of information storage, Dixtior allows for easy connectivity to DCS and provides timely alerts for any entry associated with terrorism financing, money laundering, or any bribe that might have been offered. By comparing client results, Dixtior also employs a continuous learning process to improve the quality of alerts generated to end-users. The last piece of the DCS platform is the production of XML files for financial investigation units that arespecific to nations. As each country has a different method to collect enterprise audit reports, Dixtior allows users to share evidence-backed and accurate audit reports in accordance with the regional and national laws.
  • One of our main advantages is the ability to provide insights in milliseconds for any type of transaction from a simple ledger entry to SWIFT authentication

In addition to DCS, Dixtior partners with MetricStream, a GRC solution provider, and incorporates the latter’s solution for simplifying and automating work related to enterprise governance, risk, and compliance. For those clients that require custom solutions, Dixtior has a team of software development personnel that are familiar with tackling financial crime. While most software can take weeks or months to develop, Dixtior delivers the tailormade solutions in a matter of days. With an application development team that undergoes a continuous learning process, Dixtior is well-purposed to deliver digital platforms in quick time even when encountered with various types of new integrations, web services or endpoints. As new techniques enter the fraudster armory of digital wares that damage the face value of a financial institution, Dixtior will progressively update its solutions to stay in line with the current trends. The GRC and Compliance solutions and services provider will also begin operations in the US market and aims to recreate the same success it found at its main base of operations.