The Second Largest Bank in Germany Selects Sinequa’s Cognitive Search & Analytics Platform

NEW YORK, Dec. 05, 2017 -- Sinequa, a leader in cognitive search and analytics, today announced that it was selected by DZ BANK in Germany to boost the ability of the DZ BANK workforce to extract insight from data, share ideas, innovate and achieve effective corporate governance in the areas of risk management, reputation management and transparent decision making.

DZ BANK is the second largest bank in Germany by asset size and the central institution for approximately 1,000 cooperative banks and their 12,000 branch offices. Within the Volksbanken Raiffeisenbanken Co-operative financial network, which is one of Germany's largest private sector financial service organizations, DZ BANK functions both as a central institution and as a corporate and investment bank.

“An in-depth proof of concept of the leading market solutions confirmed that Sinequa was a step ahead for combining sophisticated analytics, including advanced Natural Language Processing and Machine Learning. Sinequa provided the most relevant insight for our users from both structured and unstructured data while complying with our high standards in terms of data security,” said Peter Schminke, IT-Specialist at DZ BANK.

DZ BANK looked for a comprehensive but flexible system allowing the company to migrate from its current solution with minimum effort. The bank selected Sinequa after an in-depth evaluation on the recommendation of B-S-S Business Software Solutions GmbH, a German IT Software and Services Company. Sinequa’s excellent connectivity, a rich administration functionality, advanced NLP and a ready-to-use front-end were important criteria for the bank’s decision. B-S-S will be in charge of implementing Sinequa’s platform.

“Data is the lifeblood of the modern enterprise, and this is especially true for large financial organizations such as DZ BANK,” said Stéphane Kirchacker, vice president Sales, EMEA at Sinequa. “As Sinequa continues to expand its footprint in the financial sector, we are very pleased to count DZ BANK, the second largest bank in Germany, among our customers. Together with our partner B-S-S, we are committed to helping DZ BANK improve insights, facilitate innovation and provide the right information to the right person at the right time.”

“Sinequa’s cognitive search and analytics platform is bringing the power of AI to Enterprise Search to provide our customer DZ BANK a ‘future proof’ solution that offers a whole range of opportunities for future innovations,” said Christian Wittrich, CEO of B-S-S.

About DZ BANK

DZ BANK AG is the second largest bank in Germany. It is the central institution in the cooperative financial network and serves approx. 1,000 cooperative banks (and their 12,000 branch offices), each of which is a stakeholder in DZ BANK AG and which together own the majority stake. As “DZ BANK. Die Initiativbank,” it is also active as a corporate bank and is the holding company for the specialised service providers in the DZ BANK Group: Bausparkasse Schwäbisch Hall (building society), DG HYP (commercial real estate finance), DZ PRIVATBANK, R+V Versicherung (insurance company), TeamBank (consumer finance), Union Investment Group (asset management), VR Leasing Group, WL BANK (real estate and public sector financing) and various other specialised institutions. With its extensive range of financial products and services, the DZ BANK Group supports the local cooperative banks in Retail Banking, Corporate Banking, Capital Markets and Transaction Banking. http://www.dzbank.de.

About B-S-S

B-S-S Business Software Solutions GmbH is a German IT software manufacturer and service provider with offices registered in Eisenach and Dresden. With annual sales of approximately 4 million Euro, the company has been working to improve client competitiveness through the proper and effective use of information for 18 years. B-S-S uses its experience and expertise to optimize corporate work and communication processes to ensure user-friendly, transparent and productive cooperation. For more information, http://www.b-s-s.de/

About Sinequa
Sinequa is an independent software vendor providing a cognitive search and analytics platform for Global 2000 companies and government agencies. Combining search with advanced Natural Language Processing (NLP) and Machine Learning algorithms, the solution extracts insight from both structured and unstructured data for users in their work context. Sinequa has been recognized as a leader in both the Gartner 2017 Magic Quadrant for Insight Engines and the Forrester Wave™: Cognitive Search & Knowledge Discovery Solutions Q2 2017. Sinequa develops its expertise and its business around the world with a broad network of technology and business partners. For more information, http://www.sinequa.com.