ComplyAdvantage, a London-based global data technology company transforming financial crime detection, announced yesterday that TransferMate Global Payments, one of the leading global B2B-payments technology solution providers, has selected the company’s customer onboarding, transaction screening and monitoring solutions.
In the official press release, ComplyAdvantage highlighted the need for efficient AML and risk screening solutions in the growing global financial sector. ComplyAdvantage offers various services for financial risk management. According to the company, more than 800 enterprises around the world are using the services of ComplyAdvantage.
However, TransferMate has seen a surge in the overall demand for its B2B payment technology solutions in the last few months. Headquartered in Ireland, TransferMate is a subsidiary of Clune Technology Group founded by Terry Clune.
Commenting on the latest announcement, Simon McFeely, Chief Compliance Officer of TransferMate, said: “We selected ComplyAdvantage as they share the same vision as us to use ‘compliance as a competitive advantage’, and they support our mission to develop dynamic rules tuned to specific inherent vulnerability scenarios, ultimately providing better customer service while keeping the bad guys out of our global payments infrastructure. It’s great to know that we have a risk management solution designed to keep pace with our rapidly growing business demands.”
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AML and Risk Detection
During the recent announcement, ComplyAdvantage mentioned that the company offers an intelligent hyper-scale approach to AML and risk detection powered by its proprietary data graph called ComplyData.
“We are excited to be partnering with TransferMate, a powerhouse in the world of B2B cross-border payments. Clearly, their team values the importance of rigorous risk management solutions which in our highly regulated environment is a strategic imperative. Now by working together, we can help reduce the risk of financial crime so that TransferMate can transact with trust and grow with confidence,” Charles Delingpole, Founder and CEO of ComplyAdvantage, said in the press release.
ComplyAdvantage is backed by Goldman Sachs Growth Equity Fund.