Algbra partners with Acuminor to boost anti-financial crime offering

Acuminor

Swedish RegTech firm Acuminor has partnered with Algbra to roll out its risk assessment professional platform across the latter’s operations.

Acuminor’s Risk Assessment Pro platform and its financial crime intelligence is designed to support Algbra in quickly and efficiently performing their Enterprise/Business Wide Risk Assessment and to cement a dynamic threat-led methodology at the heart of Algbra’s financial crime framework.

The Swedish firm claims itself and Algbra will focus on first implementing a new threat-led approach to the Business Wide Risk Assessment, but once in place Algbra will start using the outcomes of the risk assessment to identify gaps and make improvements across their financial crime framework, with a particular focus on new and improved transaction monitoring scenarios.

Acuminor UK country manager Harriet Shaw said, “We are so happy to be a trusted partner, helping Algbra to clearly understand their financial crime threats and risks, enabling them to grow their business safely. We support Algbra’s mission to provide ethical finance to underserved communities and are strong advocates of a nuanced approach to business as opposed to blanket de-risking.

“The fintech sector is moving rapidly towards a more resilient defence against financial crime. It’s an honour to be entrusted by such an exciting company, and we are looking forward to a long and successful collaboration.”

Algbra head of financial crime Jamie Martin added, “Keeping our customers safe and building resilience against financial crime is our top priority. It is also important to us to partner with organisations that share our values, so we are looking forward to working closely with Acuminor as our business grows.”

Last year, Acuminor partnered with Change Gap, a business consulting firm, to accelerate the adoption of RegTech.

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