Case Study HDI Sigorta Implementing PayGate™ Inspector Cloud API to Improve Risk Management

Case Study: HDI Sigorta: Implementing PayGate™ Inspector Cloud API to Improve Risk Management


Customer Profile

 As a part of the German insurance Talanx Group, HDI Sigorta AŞ provides an extensive range of services to its clients throughout Turkey via its hundreds of agents, granting them access to all the resources of this global economic force. On June 30, 2006, the Group purchased İhlas Sigorta, a Turkish insurance company, and as an affiliate of HDI International AG, began operating in Turkey under the name “HDI Sigorta.” Several German industrial businesses established Talanx AG as a liability insurance cooperative in 1903, and it is currently the third-largest insurance conglomerate in Germany.

HDI Sigorta, a leading insurance company in Turkey, faced challenges in efficiently screening policies and potential risks detection. They needed a robust solution to enhance their risk management processes and ensure compliance with regulatory requirements. Caner Tezer, Compliance Manager at HDI Sigorta, shared their experience with Fineksus and PayGate™ Inspector Cloud API:

The Need for PayGate™ Inspector Cloud API

  1. Policy Creation and Instant Queries: HDI Sigorta required a solution that could seamlessly integrate with their policy creation process. With PayGate™ Inspector Cloud API, they could instantly query and validate customer information against sanction lists, ensuring compliance and minimizing risk exposure.
  2. Claims Processing and Immediate Scans: For claims, HDI Sigorta needed real-time scanning capabilities. PayGate™ Inspector Cloud API allowed them to scan money transfers on the same day, promptly identifying any matches with sanction lists and seamlessly reported flagged cases to the Financial Crimes Investigation Board (MASAK), allowing HDI Sigorta to take appropriate action promptly.
  3. Enhancing Risk Assessment Process:  With PayGate™ Inspector Cloud API,  HDI Sigorta  has enhanced its risk assessment process, identified potential red flags and took necessary actions promptly. Using advanced algorithms and real-time monitoring, PayGate™ Inspector Cloud API’s key features helped HDI Sigorta to proactively mitigate risks and stay ahead of evolving threats.

Why Fineksus?

HDI Sigorta evaluated several options before choosing Fineksus as their partner:

  • Strong References: Fineksus had an impressive track record, working with numerous financial institutions. Their reputation and successful implementations were crucial factors for HDI Sigorta.
  • Cost-Effectiveness: During the bidding process, Fineksus stood out for its affordable packages
  • HDI Sigorta recognized the value they could provide without compromising quality.

“We chose Fineksus based on its references and cost-effectiveness, it was important to us that they worked with many financial institutions with affordable solutions. PayGate™ Inspector Cloud API helped with our risk assessment process, identified potential red flags and took necessary actions promptly.”

Caner Tezer, Compliance Manager at HDI Sigorta

Future Outlook

HDI Sigorta continues to leverage PayGate™ Inspector Cloud API for efficient blacklist screening. As Turkey strengthens its regulatory structure to be more compliant in the global payments arena, Fineksus remains a strategic partner in their journey toward enhanced risk management and compliance.