Earthport, the payment provider transforming the future of cross-border payments, has chosen Accuity, the leading regtech provider of financial crime compliance, payments and know-your-customer (KYC) solutions, to power its payments platform, giving its clients a faster and more secure international payment service.
Accuity has built a tailored solution for Earthport, comprising payment support together with broader compliance solutions for screening transactions and customers. The combination of these solutions alongside Earthport’s technology means customers can make transactions instantly, with banks using their liquidity to deposit funds immediately. This represents an advancement in the industry, given that the industry standard transaction time is a minimum of two hours.
Rosie Faulkner, MLRO, Earthport commented: “One way we continue to retain our position as best in class for instant transactions is by constantly reviewing the best compliance solutions. Accuity is a natural choice for us as its technology is at the forefront when it comes to compliance and payments. It offers the peace of mind that our clients’ transactions are certain, safe and compliant. Having a solution tailored to our payments business means that no matter where in the world our clients want to make a transaction, we can facilitate it.”
Bob McKay, Managing Director, Accuity, added: “The move points to an emerging trend in working partnerships between fintech and regtech providers. Tailoring solutions to specific clients means we can work in an agile way and support any fintech or larger organisation that wants to protect its customers and reputation.”