Lithuania-based regtech AMLYZE has solid a partnership with Vinted Pay, the funds division of European on-line market for second-hand trend and different items, Vinted.
Vinted Pay will use AMLYZE’s expertise to offer real-time and retrospective transaction monitoring and buyer threat evaluation throughout onboarding and cost processes.
Headquartered in Vilnius, Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024.
Lithuanian regtech AMLYZE introduced a partnership with Vinted Pay, the funds subsidiary of European on-line market for second-hand gadgets, Vinted. Vinted Pay will leverage AMLYZE’s expertise for real-time and retrospective transaction monitoring and buyer threat evaluation to make sure that Vinted Pay’s onboarding and cost processes meet AML/CFT necessities.
A number one second-hand trend market in Europe and a self-described “go-to vacation spot for all types of pre-loved gadgets,” Lithuania’s Vinted provides an internet platform that connects thousands and thousands of members throughout greater than 20 markets. Based in 2008, Vinted grew to become the nation’s first unicorn in 2019, and reached a valuation of greater than €5 billion with a €340 million fundraising spherical in October 2024. That very same 12 months, the corporate reported a lift in web earnings of 330%, exceeding €76 million.
“We’re proud to accomplice with Vinted, a key participant within the on-line market trade,” AMLYZE CEO and Co-Founder Gabrielius Erikas Bilkštys mentioned. “Now that Vinted Pay has efficiently joined our platform, our superior options will help Vinted Pay in sustaining strict compliance requirements, together with throughout onboarding processes, making certain it continues to be a secure and trusted platform for its customers. This collaboration underlines our dedication to offering world-class AML/CFT companies and enhancing the prevention of economic crime throughout Europe.”
Launched in 2023, Vinted Pay is the newest initiative from Vinted, and is a part of the corporate’s technique to offer consumers and sellers throughout Europe with a safe, dependable cost possibility. Built-in into the Vinted App, Vinted Pay will be certain that members have entry to secure, environment friendly, and simple on-line transactions with the platform. Members will have the ability to use Vinted Pay to buy second-hand merchandise on the Vinted platform or, as Vinted just lately introduced, to allow members to switch funds from gross sales to a safe digital account. These funds can be utilized to make purchases on the Vinted platform or withdrawn to a private checking account exterior of Vinted.
“Vinted Pay is devoted to offering a secure and dependable cost expertise for our group,” Vinted VP of Funds Modestas Tursa mentioned. “The experience and modern expertise of AMLYZE helps guarantee we proceed to foster belief inside our platform as we regularly introduce and scale Vinted Pay throughout markets.”
Based in 2019 and headquartered in Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024. On the convention, the corporate demonstrated its anti-financial crime data sharing framework that leverages artificial information to facilitate AI mannequin coaching, testing of automated monitoring options, and extra.
Picture by Gantas Vaičiulėnas on Unsplash
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