Amlyze, a firm known for its anti-financial crime tools, has recently been chosen by Kreda, a major united central credit union in Lithuania.
Kreda’s decision to opt for Amlyze as their principal provider of anti-money laundering and compliance services emanates from their mission to upgrade and harmonise compliance standards across the 14 credit unions in the Kreda group. This collaboration also emphasises Amlyze’s drive to deliver client-focused solutions encompassing multi-dimensional task management tools.
Amlyze stands as a paramount RegTech enterprise offering robust solutions against financial crimes, catering especially to FinTechs, emerging banks, and crypto ventures. They have recently unveiled a cutting-edge multi-layer transaction monitoring system, or the Banking-as-a-Service (BaaS) monitoring solution.
Kreda is recognised as one of Lithuania’s substantial united central credit unions, with a formidable €0.5bn assets under its management. The union showcases a vast product array and geographical outreach and has a vision to secure steady growth and establish itself as a market frontrunner.
Kreda’s choice for Amlyze was influenced not only by the aptness of the solutions provided but also by Amlyze’s team, which comprises former regulators with a deep understanding of Kreda’s goals.
Kreda intends to utilise all of Amlyze’s chief modules, which includes transaction monitoring, customer risk evaluation, case handling, and sanctions screening, to meet their day-to-day compliance requisites.
Amlyze CEO and co-founder Gabrielius Bilkštys said, “The selection of AMLYZE as KREDA’s preferred AML software provider is a proof to our unwavering commitment to excellence in the field of anti-money laundering. We are honoured to partner with an institution with such a broad product portfolio and geographical coverage in our home market and look forward to sharing our long-term regulatory and technological expertise with KREDA’s Team.
“This partnership underlines our commitment to helping organisations like KREDA navigate the complex current regulatory landscape, detect financial crime and ensure the highest standards of compliance. Together, we will strengthen their financial integrity and safeguard their operations against money laundering risks, reinforcing our position as a trusted leader in the industry.”
Head of Administration and Member of the Board at KREDA, Jolita Česonienė, said, “We are very pleased with our new partnership with AMLYZE, which offers software solutions for anti-money laundering. I have no doubt that the company’s experience, expertise, and the solutions it develops to fight financial crime will not only help us to evolve, contribute to the consistent and sustainable growth of the KREDA Group, but also create value for our group and our members.
“KREDA Group provides high quality services, which is why we strive to ensure that our activities comply with all legal requirements, that the origin of funds is clear, and that monetary transactions are carried out promptly and in accordance with legal requirements. Prevention of money laundering and terrorist financing is one of our priorities, and the agreement signed with AMLYZE, a Lithuanian money laundering prevention solutions company, will not only enable the KREDA Group to strengthen its anti-money laundering and anti-terrorism efforts, but will also bring them to a higher level.”
Copyright © 2023 RegTech Analyst
Copyright © 2018 RegTech Analyst