Amsterdam, April 18 – Hyarchis, the technology company specializing in regulatory technology, expands into Germany. Hyarchis will provide its document management platform to Akbank AG, which is transitioning to new digital technologies such as cloud.

KYC and Customer Due Diligence have become indispensable tools for financial institutions to have compliant processes. Hyarchis is the leading provider of AI-driven compliance solutions for client onboarding, monitoring and remediation to financial institutions in the Netherlands.

The partnership with Germany-based bank Akbank AG marks the first step in Hyarchis’s international ambitions, says Auke Dirkmaat, CCO of Hyarchis: ‘At Hyarchis, we believe in digital banking. With KYC and AML regulations tightening, it is imperative that banks make the transition to a digital environment. After successfully providing our services to most major financial institutions in the Netherlands, we are now embarking on a new phase in the growth of Hyarchis. In Akbank AG, we have secured our first client in Germany. We expect more clients to follow, in Germany and beyond.’

Akbank: transition to cloud-native unlocks digital banking opportunities

Founded in 1948 and listed on the Istanbul stock exchange, Akbank T.A.Ş. is one of the largest banks in Turkey. German subsidiary Akbank AG is headquartered in Eschborn, Germany. Its core business areas include corporate banking, trade finance, wealth management and retail banking.

Murat Sari, Chief Operations Officer at Akbank AG, says: ‘We want to transform our bank from scratch, by using cloud-native environments. It is a simple, but hi-tech solution, leading to increased efficiency. It means a shorter time to market, a quicker response time and an improved customer experience. When you capture the data correctly, it improves data accuracy. With better data analysis, we can provide better products to our customers.’