Puerto Rican challenger bank Zenus Bank pics NICE Actimize for its AML protection

Zenus Bank is a new neobank based in Puerto Rico. In preparation of its planned fourth quarter launch, it has now tapped RegTech company NICE Actimize for its autonomous financial crime management.

The partnership will see the establishment of a cloud-focused financial crime strategy for both anti-money laundering compliance and enterprise fraud protections.

“Beyond first-mover advantage, we are creating a new marketplace which will provide first-world banking products to most of the world’s population from outside their country of residence or incorporation,” said Mushegh Tovmasyan, chairman and founder of Zenus Bank. “With such an ambitious objective, Zenus Bank has made safeguarding future customers and strict adherence to global regulatory compliance a priority in the early-stage development of its global banking services offerings.

“Our mandate is to adopt a robust financial crime protections policy that utilizes a modern, cloud-based approach. With an industry leader like NICE Actimize leveraging its years of experience and advanced technology, we are confident that our customers will have an efficient user journey and will enjoy doing business with us.”

Craig Costigan, CEO of NICE Actimize, was confident that the RegTech company’s experience would enable it to live up to Zenus Bank’s expectations.

Zenus Bank was permitted to act as a bank in early August this year. This meant it had taken one step closer to its stated goal of enabling remote banking access for people around the world.

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