Following this announcement, Avalo’s new platform was developed in order to address the intricate challenges of domestic and international transactions. In response to the multiple longstanding complexities and inefficiencies that are present on both local and cross-border payments, Avalo’s platform is expected to securely and easily integrate treasury management, risk, compliance, KYCC (Know Your Client's Customer), as well as information exchange capabilities into an automated and user-friendly platform.
In addition, Avalo will also continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Throughout this launch, the platform is expected to offer financial institutions comprehensive and detailed oversight and insight into their transactions, as well as foster trust and confidence through transparency and speed. In addition, the company will leverage its risk-based approach and KYCC feature in order to streamline domestic and international payments, while also ensuring improved compliance and risk mitigation.
At the same time, by automating compliance procedures, Avalo is expected to improve the customer journey, as well as enable secure and efficient information exchange for timely risk identification and mitigation. The company will use improved technologies such as APIs, artificial intelligence (AI), and machine learning (ML) in order to offer collaborative access to critical information, while also offering full control over the payment chain. This process is expected to improve operational efficiency and reduce transaction costs and manual errors, which will lead to optimised development and ROI. The KYCC capabilities will provide deep insights into client relationships while adding accurate risk assessment and streamlining AML operations.
In addition, in order to expand its market reach and impact, Avalo has formed a strategic collaboration with ISoftware4Banks, a business development and sales team that specialises in banking solutions. The aim of the partnership is to optimise the way financial institutions streamline their operations, improve their audibility, and provide a secure and efficient customer journey. Avalo’s platform will provide an auditable, centralised, and integrated hub for all transaction-related data, aiming to automate compliance processes, provide monitoring, as well as ensure safe, collaborative access to key information. This will eliminate communication, reduce delays, and enable financial institutions to access accurate data and information easily.
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