Lithuania

Lithuanian Regtech AMLyze Partners With Shufti Pro to Enhance AML Screening Service

by Fintechnews Baltic November 2, 2023

Shufti Pro, an identity verification service provider announced its strategic partnership with Lithuanian based AMLYZE, a RegTech company specialising in anti-financial crime solutions for FinTechs, neo-banks, and crypto businesses.

This collaboration brings together the best of both companies’ expertise to offer clients an unparalleled suite of Anti-Money Laundering (AML) and Know Your Customer (KYC) screening solutions.

AMLYZE, recognised for its transaction monitoring, client risk scoring, investigations, and sanctions screening services, developed by regulatory insiders in collaboration with IT and AML experts, has joined forces with Shufti Pro to leverage the latter’s cutting-edge compliance services along with KYC and KYB (Know Your Business) technologies. As a value-added reseller, AMLYZE will integrate Shufti Pro’s identity verification services to further enhance its existing compliance module offerings.

The key benefits of this partnership include:

• Seamless identity verification: clients of AMLYZE can now enjoy a seamless and robust identity verification process powered by Shufti Pro’s state-of-the-art technology. This will help AMLYZE’s customers ensure the authenticity of their customers, reduce fraud risks and enhance compliance efforts.
• Comprehensive KYC/KYB solutions: Shufti Pro will be able to provide an all-encompassing AML screening and compliance solution by incorporating AMLYZE’s key modules, helping clients to streamline customer onboarding and risk assessment processes.
• Global reach: Shufti Pro’s global coverage allows AMLYZE to offer identity verification and background checks for individuals and businesses around the world, facilitating international expansion and compliance with various regulatory requirements.
• Enhanced efficiency: AMLYZE’s clients will benefit from quicker onboarding and a more efficient AML screening process, resulting in improved customer experiences and reduced operational costs.

Jekaterina Govina

Jekaterina Govina, Head of Partnerships & Regulatory Affairs and Co-Founder, at AMLYZE, said:

“We are excited to partner with Shufti Pro, one of the leaders in the identity verification and KYC industry. This collaboration allows us to enhance our AML screening services significantly and provide our clients with a holistic approach to compliance. We are sure this will support our planned international expansion and ensure that our customers have access to the most advanced solutions to combat financial crime and ensure the security of their operations.”

Victor Fredung

“Shufti Pro aims to eradicate identity scams from the Fintech industry, and partnership with AMLYZE is a step towards that goal. Our services will drive trust in the industry, ensuring secure customer onboarding whilst enhancing AMLYZE’s AML screening processes. Shufti Pro will continue to work further in the future, enabling Fintech businesses to deter fraud through our state-of-the-art IDV solutions,”

said Victor Fredung, CEO of Shufti Pro.