ING Know Your Customer (KYC)
Protecting customers and society, and making the bank even more secure
To prevent fraud, the financing of terrorism, money laundering and other malpractices, it is important that ING knows its customers, which is why all customers are screened to check whether they pose any risks – either to the bank or to society as a whole. Rainaldo Kroesen and his teams take care of the software that facilitates that screening process, making them an important link in ING’s Global Know Your Customer chain.
Each of the three teams with which Rainaldo works is responsible for a software product that supports the Know Your Customer (KYC) activities of their bank colleagues around the world. The software from the three teams makes life easier for front office employees, compliance specialists, risk officers and others.
Rainaldo: “ING has to be in a constant state of alert to any possible irregularities relating to existing and potential customers and transactions. Screening for such irregularities is a continuous process. We screen various aspects, including whether the customer’s or company’s name features on a sanctions list or a list of politically exposed parties. In the case of transactions, we check whether a high-risk country is involved, for instance, or whether any international sanctions apply to the individual, organisation or country. Another aspect is media screening: has the customer hit the headlines for the wrong reasons? Are we, ING, happy to do business with this person or organisation? This is a mammoth task, not least due to ING’s huge volumes of customers and transactions worldwide. Besides that, the lists of terrorism organisations, adverse media, politically exposed parties and suchlike are updated daily so it’s a never-ending process.”
“Each of the three DevOps squads that I’m the central product owner of has its own software product that makes this huge operation possible. Our goal is to work together with the customer due diligence and monitoring teams within KYC to develop a uniform process and methodology for all ING countries. Among other things, my role entails ensuring that our applications meet ING’s compliance requirements and adhere to all the relevant rules and regulations in the various countries. Another part of my job is to develop a vision of how the ideal screening process should look. The engineers in the squads make sure that the platforms run seamlessly with no downtime. We support business-critical processes within the bank, so we can’t afford to risk the systems being unreliable or going offline.”
Contributing to change
Rainaldo has been with ING for around nine years in total, albeit with a couple of interim periods in which he worked at other companies. “But I always come back to ING because it’s one of the best companies you could imagine working for. It offers a very dynamic working environment with state-of-the-art technologies which we’re using to shape the bank of the future. When Global KYC was set up, I immediately had the sense that I could add value here. The material is very up to date and extremely interesting, plus we have a clear mission: to protect our customers and wider society in the countries where ING is active, and to become an even more secure and more compliant bank. Through our work we’re contributing to the prevention of people trafficking, terrorism and tax avoidance, for example. We have a genuine drive to help tackle such problems. Also, I hope that our work illustrates the bank’s social engagement. We’re making rapid progress; we’re all pulling together strongly and in the same direction. It’s terrific to be a part of that.”
Rainaldo studied business information technology at Amsterdam University of Applied Sciences. He has two young children and lives in the coastal town of Zandvoort, which is the ideal place for lots of outdoor activities. He enjoys swimming, cycling and running, and plans to combine those three sports by taking part in a triathlon in the near future.