The collaboration between the two companies aims to improve the security and reliability of digital financial services across the region. Traxion specialises in digital transactions, offering businesses and consumers a secure platform for various services, including payments, remittances, and business solutions. Through the partnership with Flagright, Traxion will use advanced technology to improve its security measures, ensuring a safer transaction environment for all users.
In the official press release, representatives from Traxion highlighted the significance of the partnership, stating that it supports their commitment to providing a secure digital transaction platform in Southeast Asia. The integration of Flagright's AML and fraud prevention solutions is expected to play an important part in protecting users' transactions against evolving digital financial threats.
Flagright's AI technology and user-friendly interface will allow Traxion to seamlessly integrate comprehensive compliance and fraud prevention measures into its platform, enhancing security. This partnership comes in the context of the shared dedication of both companies to uphold integrity and trust within the digital financial ecosystem. Representatives from Flagright expressed excitement about the partnership, emphasising their joint vision of making digital transactions more secure and accessible.
Flagright specialises in AI-native AML compliance and fraud prevention solutions, helping financial institutions worldwide to combat financial crimes and ensure secure transactions.
In November 2023, Flagright announced a strategic partnership with UK-based payment institution Sciopay to enhance the security measures for its cross-border payments and foreign exchange management services. Under the partnership agreement, Flagright provided Sciopay with its AI-powered Anti-Money Laundering (AML) compliance services, aimed at improving the security of its cross-border payments and foreign exchange management tools. Sciopay, known for its reliable infrastructure supporting international payment solutions, aimed to strengthen its commitment to delivering secure and efficient services while meeting the diverse needs of its users and clients.
Through this collaboration, Sciopay leveraged Flagright's flexible, no-code platform to seamlessly integrate comprehensive AML compliance measures. The company focused on ensuring secure transactions and combating financial crime within the financial ecosystem.
In the same month, Flagright also partnered with Hello Clever to improve the security infrastructure for the latter’s real-time payment platform. Through this partnership, Flagright wanted to support the security framework for Hello Clever by integrating several features, including fraud detection, transaction monitoring, and sanctions screening in a bid to enable Hello Clever’s merchant partners to prevent fraud by detecting suspicious activity in real-time.
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