State of Financial Crime 2023 Report

Holvi ensures a seamless user experience.

Adverse Media Challenger Banks Customer Stories

The Company

Holvi’s mission is to help entrepreneurs by providing a seamless user experience in online banking and business management. As they experienced fast growth, Holvi wanted to streamline their operations to ensure they could continue to provide top-of-the-line product development and user experience for their end customers. When providing superior quality is the number one priority, Holvi knows it makes sense to source some back-office operations to a reliable partner.

ComplyAdvantage was selected to help make Holvi’s AML processes more robust and handle more cases. Implementing the EU’s 4th Money Laundering Directive (4MLD) would have required a lot of internal resources to manage, and ComplyAdvantage ensures Holvi can continue to meet global requirements in a changing regulatory environment. With ComplyAdvantage, Holvi can now concentrate on their core business: keeping entrepreneurs happy.

Industry: Payments

Product: Screening and Ongoing Monitoring

The Challenge

Outdated data & new regulatory requirements

Faced with a rapid growth trajectory, Holvi’s current system was not fit to scale. With an ever-increasing volume of risk indicators and limited resources internally to monitor for changes, Holvi was struggling to keep the risk data up to date. The deadline for 4MLD was also quickly approaching, which increased the scope of screening required to include the coverage of domestic politically exposed persons (PEPs).

Manual monitoring of clients

In addition to challenges with maintaining accurate risk data and screening clients at onboarding, Holvi found it difficult to monitor the changing risk profiles of their customers efficiently and regularly, in accordance with expectations laid out in 4MLD. Their existing manual monitoring process would not be sustainable to meet the demands of their fast growth. They were also receiving a large volume of false positives, and risk decisions made at onboarding needed to be manually remediated again. They wanted a system that could not only automate ongoing monitoring and proactively alert the compliance team when relevant risks change, but one that could safely and effectively whitelist entities once checked to help reduce time-consuming false alarms.

Fragmented workflow causing delays

Offering a fast and reliable service to their clients is what sets Holvi apart from other digital banking providers. However, due to the company’s rapid growth, they knew their existing approach to screening for AML risk at onboarding and their ongoing monitoring processes, as well as transaction screening, would cause delays and friction in the customer experience and payment process. Therefore, they needed a solution to enable fast and safe onboarding and payment screening within their existing banking platform. They wanted a seamless solution delivered via an API that could offer the reliability and flexibility required.

With ComplyAdvantage, we have succeeded in optimizing our internal processes, resulting in faster processing time for cases and minimizing the risk of errors. We were pleased to see that we could start working with the system without extensive training — allowing us to reduce operational workload from the beginning.

— Sascha Bross, Compliance Officer

The system is simple to set up and use and flexible to fine-tune. Additionally, using a shared compliance infrastructure allows us to focus our technical resources on other core business activities.

— Sascha Bross, Compliance Officer


  • Multi-jurisdictional regulatory environment
  • High volumes of transactions
  • Multiple business models with unique risk profiles


  • Flexible transaction monitoring solution
  • Easy-to-configure risk scenarios
  • Partnership approach to implementation and support


  • Tailored solution to meet complex regulatory requirements
  • Ability to implement a proper risk-based approach
  • Reduced false positives
  • Improved reporting and audit trail

Disclaimer: This is for general information only. The information presented does not constitute legal advice. ComplyAdvantage accepts no responsibility for any information contained herein and disclaims and excludes any liability in respect of the contents or for action taken based on this information.

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