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De volksbank

Enhancing detection at de Volksbank

Facing the challenge of a nearly outdated and unsupported system, De Volksbank, comprising ASN Bank, BLG Wonen, RegioBank, and SNS, recognized the critical need for a technological upgrade of their fraud detection software. The existing RiskShield Investigator, integral to combating fraudulent transactions, had become obsolete, demanding a transition to the enhanced RiskShield Application Center by Inform. With well over 3 million customers, De Volksbank sought Ordina’s expertise to ensure a smooth migration while minimizing the disruption for their subject matter experts.

This case study delves into how Ordina successfully navigated the complexities of this transition, ultimately bolstering De Volksbank’s capabilities in detecting and preventing Financial Economic Crime.

Four months, one project

The project unfolded over a concise timeline of four months, with a live launch on April 20, 2023. The innovative features introduced were aimed at making reports more comprehensive and accessible, particularly for De Volksbank analysts. Unlike De Volksbank’s previous system, which presented all of the data in one single long scroll, the new dashboard now provides a more intuitive interface, categorizing pages for analysts, showing historical data, and more.

The collaboration between Ordina and De Volksbank was characterized by close cooperation, with Ordina’s team working alongside De Volksbank’s team and head analysts. The nature of the project allowed for multiple solution variants, thereby ensuring that the final product aligned seamlessly with De Volksbank’s needs. “I am really enthusiastic about the work that Ordina’s consultants carried out”, says Mischa de Rover, Lead Product Owner at De Volksbank. “We are very happy that this project was finalized within the agreed timeframe. This new tool helps our department work in a more efficient way and helps us fight financial crime even better.”

“Old system”, new look

Ordina focused the first part of the four-month timeline on creating an exact copy of the old system in a new and viable look. After this first period, Ordina slowly started to enhance the system, adding more and more new features that would help De Volksbank’s analysts in their work.

The new features streamlined work processes, offering an intuitive and comprehensive dashboard where indications of financial economic crime can now be signaled even faster and earlier on.

After implementing the new system, Ordina’s consultants provided training while also motivating and ensuring that all of the analysts embraced and were using the new system.

Impactful solutions aligning De Volksbank’s goals

The migration from RiskShield Investigator to RiskShield Application Center marked a significant step for De Volksbank in enhancing its fraud detection capabilities. The collaboration with Ordina not only ensured a smooth transition but also introduced innovative features that positively impacted the efficiency of fraud analysts. The project’s success demonstrates the commitment of both parties to delivering impactful solutions that align with the organization’s goals. The upgraded platform now positions De Volksbank to conduct thorough investigations into fraud cases, contributing to the overall security of the bank and its clientele.

Want to know more? Or is your organization currently ready for the next step in fighting financial economic crime?

Get in touch with Peter Sitskoorn, Practice Lead Financial Economic Crime, M. +31 (0)6 2549 2527

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Peter Sitskoorn

Practice Lead Financial Economic Crime