AMLYZE partners with Satchel

Monday 22 January 2024 10:44 CET | News

Lithuania-based regtech AMLYZE has announced its partnership with Satchel, aiming to enhance digital banking compliance standards.

The collaboration with AMLYZE aligns with Satchel’s commitment to offering improved banking services while supporting regulatory compliance and client security. Considering its current position, Satchel consistently integrates tools that aim to optimise workflows and increase productivity, as well as ensure compliance with applicable regulatory requirements. AMLYZE, which has expertise in various EU regulatory and supervisory authorities and financial institutions, provides a suite of tools for onboarding automation, risk scoring, and AML risk assessment. The company’s solutions cover real-time and retrospective transaction monitoring, Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) investigation, and sanctions screening, intending to offer a complete approach to compliance.

Lithuania-based regtech AMLYZE has announced its partnership with Satchel, aiming to enhance digital banking compliance standards.

AMLYZE – Satchel collaboration objectives

According to Satchel’s officials, the company focuses on maintaining increased AML standards, and the collaboration with AMLYZE solidifies its commitment to regulatory compliance. AMLYZE’s knowledge of risk assessment and financial crime prevention aligns with Satchel’s objectives and the company’s customisation options allow the latter to tailor the approach to meet its distinctive requirements. Representatives from AMLYZE expressed their enthusiasm over the collaboration with Satchel, stating that one of the factors influencing this decision was the company’s position and customer base expansion. Considering Satchel’s recent growth, the company demands increased resources and elevated diligence in AML efforts. By partnering with Satchel, AMLYZE intends to support the company’s growth and reinforce both enterprises' shared commitment to improving digital banking compliance standards.

Furthermore, the collaboration between AMLYZE and Satchel aims to enhance digital banking compliance and improve the overall landscape of the financial technology sector. By combining Satchel’s secure financial tools for digital banking, including international money transfers, fintech consulting, BaaS, SaaS, currency exchange, and card services, with AMLYZE’s anti-financial crime solutions, the two companies focus on augmenting the banking segment while maintaining regulatory compliance.

AMLYZE’s recent developments

In addition to its collaboration with Satchel, AMLYZE recently partnered  with TransactionLink to optimise the overall landscape of AML and Know Your Customer (KYC) automation. The collaboration was set to allow TransactionLink’s customers and clients to have more stages of their AML process managed by AMLYZE. Additionally, the company was expected to receive the ability to leverage AMLYZE’s solutions and knowledge to deliver an efficient, secure, and user-friendly tool to its clients. At that time, TransactionLink intended to continue to provide its users with its no-code platform and drag-and-drop builder tool that was developed to enable companies to design their onboarding processes.

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Keywords: AML, CFT, KYC, partnership, digital banking
Categories: Fraud & Financial Crime
Companies: AMLYZE, Satchel
Countries: Lithuania
This article is part of category

Fraud & Financial Crime




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