Treasury Prime expands compliance tools with Greenlite partnership

This partnership allows banks within Treasury Prime’s network to improve their anti-money laundering (AML) and risk management efforts by automating repetitive tasks.

As regulatory demands become increasingly complex, compliance remains a key consideration for banks investing in embedded banking programs. Treasury Prime’s Bank-Direct approach ensures that banks retain oversight of their fintech partnerships, including compliance measures. The integration of Greenlite allows banks to scale their compliance programs without increasing staffing needs and accelerates the onboarding of fintech partners while maintaining thorough reviews.

Greenlite’s platform uses generative AI to assist financial institutions regulated by the OCC, SEC, and FDIC in automating customer due diligence processes. The solution simplifies risk management and supports compliance teams by enabling the onboarding, periodic review, and investigation of business customers more efficiently.

Amid a rise in AML-related consent orders, the partnership between Treasury Prime and Greenlite aims to provide banks with AI-driven tools to automate tasks like customer due diligence, alert handling, and third-party risk management, ensuring they can scale their embedded banking programs while meeting regulatory requirements.

AML and regulatory environment

In recent years, regulatory scrutiny on AML practices has intensified globally, with financial authorities imposing stricter oversight and higher penalties for non-compliance. Regulatory bodies such as the Financial Crimes Enforcement Network (FinCEN) in the US, alongside global counterparts, have increased enforcement actions, leading to a significant rise in consent orders and hefty fines. These enforcement measures target banks and financial institutions that fail to implement robust AML programs or properly monitor suspicious activities. As a result, compliance has become a critical focus for institutions, with many facing increased operational pressure to meet these heightened regulatory expectations.

This growing regulatory pressure is driving banks to invest in advanced AML and compliance solutions that leverage artificial intelligence and automation to manage risks more effectively. Platforms like Greenlite provide banks with AI-driven tools to automate labour-intensive processes such as customer due diligence, alert handling, and transaction monitoring. These solutions allow financial institutions to keep pace with complex and evolving regulations while maintaining high standards of compliance, reducing the risk of consent orders, fines, or reputational damage. By adopting these technologies, banks can efficiently scale their compliance programs without overwhelming their internal teams, ensuring they remain agile in the face of escalating regulatory demands.