AMLYZE, a leading RegTech company specializing in anti-financial crime solutions for FinTechs, neo-banks and crypto businesses, is delighted to announce that KREDA, one of the largest united central credit unions in Lithuania, has selected AMLYZE as its preferred provider of anti-money laundering and compliance services.
It is AMLYZE’s first client with a wide network of financial institutions and the first to choose the company’s recently developed multi-layer transaction monitoring solution, also known as Banking-as-a-Service (BaaS) monitoring solution.
This agreement marks KREDA’s decision to modernize and unify compliance standards across all 14 credit unions within KREDA group and AMLYZE’s aspiration to provide solutions specifically tailored to the needs of its clients, that altogether includes multi-dimensional task management tools.
“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 honored 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 organizations 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,” said Gabrielius Bilkštys, CEO and co-founder of AMLYZE.
KREDA, which has €0.5 billion in assets under management, says it chose AMLYZE because of the relevance of the set of solutions, the experienced team of former regulators and their understanding of KREDA’s ambition to achieve a stable and balanced growth to become market leader.
“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,” Jolita Česonienė, Head of Administration and Member of the Board at KREDA, said.
KREDA will use all AMLYZE’s key modules for transaction monitoring, customer risk assessment, case management and sanctions screening for its daily compliance needs.