Paysend automates risk management with CalQRisk

Monday 27 November 2023 12:15 CET | News

UK-based fintech Paysend has implemented a solution from CalQRisk in order to augment and automate their approach to enterprise risk management.


Paysend intends to utilise the CalQRisk solution to mobilise their risk frameworks globally.

Paysend has implemented a solution from CalQRisk in order to augment and automate their approach to enterprise risk management.

CalQRisk is a Governance, Risk Management, and Compliance (GRC) solution used by organisations to streamline their risk management and compliance processes.

Officials from Paysend said they’re really looking forward to rolling out the CalQRisk solution. They could immediately see the benefits in the solution – it will help them streamline their existing approach to risk management and ultimately save them time.

Also commenting on this partnership, representatives from CalQRisk said they’re happy to be working with a company like Paysend. The number of fintech organisations using CalQRisk continues to grow as firms look for ways to streamline typically manual processes while keeping up with regulatory obligations.

More news from Paysend

In October 2023, Paysend has joined forces with Western Union to enhance cross-border money transfers.

Through this partnership, Western Union clients can utilise Paysend's integration to send funds directly to Visa and Mastercard debit cards using Western Union's digital solution. Paysend aims to streamline the money transfer process, emphasising its mission to simplify transactions for users.

The collaboration leverages Paysend's single API solution to facilitate quick and efficient payouts, aligning with Western Union's global reach and commitment to financial inclusion. The press release highlights the significance of remittances, citing World Bank data indicating a 5% increase in 2022, exceeding USD 800 billion and contributing to community support and economic growth. Paysend's integration supports near-instant payouts at live foreign exchange rates for Western Union customers.

In September 2023, Paysend has partnered with Visa to enhance international money transfers for its customers worldwide. The five-year collaboration leverages Visa Direct, the real-time money movement network, enabling Paysend's global customers to send money in real-time to eligible Visa cards across 170 countries and regions. 

This builds upon their initial collaboration announced in February 2022, allowing Paysend's UK and US clients to make international payments to eligible Visa cards. The partnership includes joint marketing initiatives aimed at accelerating and improving payment development processes for eligible Visa cards, particularly in key corridors like the USA-Latin America corridor.

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Keywords: risk management, partnership, compliance, digitalisation, fintech
Categories: Fraud & Financial Crime
Companies: CalQRisk, Paysend
Countries: World
This article is part of category

Fraud & Financial Crime




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