KLP invests in a new anti-money laundering tool in the fight against financial crime.

After a thorough evaluation process where several providers were assessed, KLP has entered into an agreement with Stacc. This investment is part of KLP's ongoing efforts to combat financial crime.

"We are confident that Stacc's solution will help maintain and improve our measures against money laundering and terrorist financing," says Thomas Nielsen, Director at KLP.

The new solution will significantly enhance the efficiency of KLP's anti-money laundering processes, as well as improve the ability to identify and manage suspicious activities.

"This strengthens our position as a reliable and responsible player in the financial market," Nielsen concludes.

Stacc's AML solution combines compliance with legal requirements, operationalization of measures, user-friendliness and efficiency. The solution consists of automated workflows, digital signing, automatic triggers and notifications, a customer portal, and an overview that gives KLP full control over the work. The solution is integrated with relevant sources and documents customer measures in an integrated case management system.

The solution will be delivered as a cloud-based SaaS service from Stacc, based on partnerships with Orange Business and Microsoft Azure. The implementation project will start in August 2024 and is expected to be completed by 2025.

"We have proven that we can meet the functional, operational, and technical requirements, as well as the security and organisational demands of a mission-critical organisation like KLP," says Philip Røer, Managing Director of the AML team at Stacc.

"We are very pleased to enter into this agreement with the KLP Group and look forward to a long-term collaboration. Stacc has focused on a specialised area within AML and KYC compliance, and it is gratifying that an organisation like KLP have chosen us as their new provider," Røer concludes.

Contact Information at Stacc AS

Tone Grotmoll, Sales Director
+47 909 30 285
toneg@stacc.com

KLP

KLP is one of Norway's largest life insurance companies, with over NOK 1,000 billion in assets under management and approximately 1,100 employees. The company provides pension, financial, and insurance services to municipalities and county municipalities, health enterprises, and companies in both the public and private sectors, as well as their employees.

The public sector is the central business area, with public occupational pensions as the company's main product. In the public sector, KLP is the market leader in both pension insurance and general insurance. KLP is a mutual insurance company with five wholly-owned subsidiaries organised as limited companies. The subsidiaries contribute to increased growth and profitability by offering competitive prices on banking, funds, and insurance to all those with pensions in KLP.

For more information about KLP, visit www.klp.no.

Contact Information at KLP

Lars-Fredrik Hoel Aronsen
+47 926 56 530
lars.fredrik.hoel.aronsen@klp.no