Coop Bank, a Danish digital bank serving around 80,000 customers, is bringing their AML processes into a single platform for a more complete view of customer risk.
The move follows a new partnership with Trapets, covering Transaction Monitoring, Customer Due Diligence (CDD), and Customer and Company Screening.
By bringing these processes together in Trapets’ platform, Instantwatch, Coop Bank gains a single, integrated view of customer risk.
Transaction Monitoring gives the bank continuous insight into customer activity, flagging unusual transactions as they happen and supporting faster, well-documented decisions.
Together with CDD and screening, Coop Bank gains a strong foundation built to grow alongside future requirements, such as AMLR.
“Coop Bank wanted their AML process connected to one platform that gives them more efficient workflows, automation where needed, and sharper insights into their customers and risk. That’s exactly what Instantwatch is built for and we’re glad to support them as they build that foundation”, says Gabriella Bussien, CEO of Trapets
As AMLR requirements take shape across the EU, including the Nordics, banks are under pressure to strengthen AML and customer due diligence, while keeping operations running smoothly.
Coop Bank’s move to consolidate their process in one system reflects that shift.
The bank has also made it a part of their strategy to work with EU-based suppliers. As a Nordic RegTech company, Trapets’ offering is well placed to support this decision.
"We wanted transaction monitoring, CDD, and screening in one platform that fits exactly what we need, without adding weight for our team. Choosing EU-based suppliers wherever possible is a deliberate strategy for us, so finding one that fits this well is a real plus.” - Jannik William Frederiksen, Head of IT, Coop Bank
About Coop Bank:
Coop Bank is a Danish digital bank established in 2013 and serving over 80,000 customers. The bank provides accounts, savings, loans, mortgages, and investment services across Denmark.
About Trapets:
Trapets is a Nordic RegTech company helping financial institutions detect, prevent, and fight financial crime. Trapets’ solutions support the full AML lifecycle through transaction monitoring, customer due diligence, and screening.