Transactive bolsters internal AML with Sentinels Global partnership

Open banking software developer Transactive has bolstered its internal AML transaction monitoring platform through the integration of Sentinels Global.

Through the partnership, Sentinels, which offers intelligent transaction monitoring, to improve its compliance processes. Being a digital-first company using many APIs, it looked for a partner that would work well with its needs.

Transactive is an open banking initiative, which provides businesses with digital banking services, including instant payments.

Transactive CEO Daniel Edwards said, “Although we have developed a strong in-house AML solution, we chose to look for an external partner to enhance our existing processes rather than replace them. One of the examples here is the risk detection capabilities that Sentinels brings.

“We’ve experienced Sentinels’ commitment towards improving AML compliance and realised they have what it takes to support our long-term growth plans. Sentinels’ flexibility and the innovation-first mentality were the strongest factors why we chose to work with them.”

Sentinels ‘ platform claims to optimise AML and transaction monitoring processes with real-time insights. Its technology leverages internal data siloes and external data sources through APIs. These insights are used by machine learning models to offers a clear image of a client’s current and historic behaviour and a comparison to peers.

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