AMLYZE, a regtech specializing in combating monetary crime that made its Finovate debut at FinovateEurope earlier this 12 months, has cast a strategic partnership with Aura Cloud. Headquartered in Lithuania, AMLYZE affords anti-financial crime options for quite a lot of monetary companies suppliers, together with fintechs, banks, and cryptocurrency corporations. 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’ll empower monetary establishments to remain forward of the curve within the battle in opposition to monetary crime.”
AMLYZE leverages AI, artificial knowledge, and the ability of the community to supply a paradigm-shifting method to AML. The AMLYZE platform’s use of artificial knowledge and privateness enhancing applied sciences (PETs) permits aggressive adoption of AI and machine studying methods and techniques that don’t violate confidentiality or breach knowledge privateness. The corporate’s know-how might be deployed to supply real-time and retrospective transaction monitoring, buyer danger assessments, AML/CFT investigations, and PEP, sanctions, and unfavourable media screening. Furthermore, AMLYZE’s mannequin facilitates not solely efficient monetary crime detection, but additionally AI mannequin coaching, testing of automated options, and AML workers coaching.
“(AMLYZE’s) automated transaction monitoring and buyer danger evaluation resolution supplies extra potentialities for our core banking platform prospects to have (a) state-of-the-art resolution to reduce monetary crime and improve compliance,” Aura Cloud CEO Prem Bhagwat stated. “We see this partnership as a wonderful addition to our present partnership ecosystem in Northern Europe and past.”
Headquartered in Vilnius, Lithuania, AMLYZE made its Finovate debut earlier this 12 months 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 serious enterprise capital agency primarily based within the Baltics, and FIRSTPICK, a Baltics-based accelerator and enterprise capital fund.
Photograph by Humphrey Muleba
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