kevin. appoints Sentinels for transaction monitoring compliance

Thursday 9 June 2022 12:55 CET | News

Lithuania-based fintech kevin. has appointed Sentinels, an intelligent transaction monitoring platform, to handle its transaction monitoring compliance.

The partnership means kevin. now detects suspicious transactions in real-time while ensuring compliance with local anti-money laundering (AML) regulations.

kevin.’s account-to-account (A2A) payment infrastructure solution, enabled by Open Banking, allows merchants to receive payments from more than 350 million people with bank accounts within 27 European countries. Currently, over 6000 merchants use kevin.’s payment infrastructure.

To prevent fraudulent use of its services and meet European AML compliance requirements, kevin. must maintain strong customer due diligence, transaction monitoring, and client risk profiling procedures. These steps ensure that the company can identify suspicious and deny illegitimate transactions.

Sentinels equips kevin.’s AML officers with a tool that enables it to meet its regulatory needs and improve transaction monitoring. For example, rich client data insights built from Know Your Customer (KYC) and transaction data provide kevin. with a deeper understanding of its customers, enabling it to identify suspicious transactions with greater speed, frequency and accuracy. 

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Keywords: Open Banking, partnership, AML, transaction monitoring, fintech
Categories: Fraud & Financial Crime
Companies: Kevin, Sentinels
Countries: Europe
This article is part of category

Fraud & Financial Crime




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