AMLYZE, a regtech specializing in combating monetary crime that made its Finovate debut at FinovateEurope earlier this yr, has cast a strategic partnership with Aura Cloud. Headquartered in Lithuania, AMLYZE affords anti-financial crime options for a wide range of monetary providers suppliers, together with fintechs, banks, and cryptocurrency companies. The corporate’s partnership with Sweden-based Aura Cloud will mix the latter’s experience in monetary crime prevention with the previous’s digital banking options.
AMLYZE Co-Founder and Head of Partnerships Jekaterina Govina praised Aura Cloud for its “dedication to agility and innovation” which Govina stated “aligns completely with our mission to supply AML/CFT options, constructed by regulatory insiders who perceive buyer ache factors from the within out.” Govina added, “Collectively, we are going to empower monetary establishments to remain forward of the curve within the battle towards monetary crime.”
AMLYZE leverages AI, artificial information, and the ability of the community to supply a paradigm-shifting method to AML. The AMLYZE platform’s use of artificial information and privateness enhancing applied sciences (PETs) allows aggressive adoption of AI and machine studying methods and techniques that don’t violate confidentiality or breach information privateness. The corporate’s know-how may be deployed to supply real-time and retrospective transaction monitoring, buyer threat assessments, AML/CFT investigations, and PEP, sanctions, and detrimental media screening. Furthermore, AMLYZE’s mannequin facilitates not solely efficient monetary crime detection, but additionally AI mannequin coaching, testing of automated options, and AML employees coaching.
“(AMLYZE’s) automated transaction monitoring and buyer threat evaluation answer gives further prospects for our core banking platform clients to have (a) cutting-edge answer to reduce monetary crime and improve compliance,” Aura Cloud CEO Prem Bhagwat stated. “We see this partnership as a superb addition to our present partnership ecosystem in Northern Europe and past.”
Headquartered in Vilnius, Lithuania, AMLYZE made its Finovate debut earlier this yr at FinovateEurope 2024 in London. The corporate has raised $1 million (€1 million) in pre-seed funding, courtesy of an funding spherical led by Practica Capital, a significant enterprise capital agency based mostly within the Baltics, and FIRSTPICK, a Baltics-based accelerator and enterprise capital fund.
Picture by Humphrey Muleba
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