back Back

Al Fardan Exchange partners with AML Analytics to boost security

By Delisha Fernandes

September 26, 2023

  • Al Fardan Exchange
  • AML Analytics
  • Anti - Money Laundering
Share

Al Fardan Exchange, AML Analytics, anti-financial crime, money transfer, Anti-Money Laundering, FinTech news, FinTech UAEAl Fardan Exchange, a money transfer and currency exchange firm, has partnered with UK-based AML Analytics, which facilitates testing and validation of sanction screening and transaction monitoring systems.

The partnership strengthens Al Fardan Exchange’s commitment to ensuring that sanctions systems are functioning as intended, thereby elevating anti-financial crime standards in the market.

The money transfer company seeks to fortify its present robust ethical and sustainable business practices, by implementing comprehensive compliance measures for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT).

“Through this strategic alliance, Al Fardan Exchange is set to invest substantially in state-of-the-art technology and expertise, elevating its operations and services to unprecedented levels of excellence”. Hasan Fardan Al Fardan, CEO of Al Fardan Exchange, said, “Our partnership with AML Analytics marks a significant milestone in reaffirming our unwavering commitment to upholding the highest standards of compliance both regionally and globally.”

AML Analytics Regulatory Technology (RegTech) solutions enhance the screening and monitoring systems, which will assist the money transfer company in complying with regulatory requirements. This will help to minimise the risk of financial crime, Targeted Financial Sanctions and ensure that strong detection systems are in place.

Tim Holder, Managing Director Middle East and Africa, AML Analytics, said, “AML Analytics are delighted to have been asked to partner with Al Fardan Exchange to assist with their continued proactive approach to their AML/CFT work. I’m thoroughly looking forward to working closely with Hasan Fardan Al Fardan and his team to help them further the development of their vision and future goals.”  

AML Analytics collaborates with regulators, supervisors, and central banks globally, delivering technical expertise and advanced Supervisory Technology (SupTech) to test and validate regulated entities’ AML/CFT systems as part of Thematic Reviews.

Previous Article

September 26, 2023

BENEFIT acquires Bahrain Fintech Bay to foster FinTech innovation

Read More
Next Article

September 26, 2023

SC Ventures launches ‘audax’ to boost digital banking capabilities

Read More






IBSi Daily News Analysis

cybersecurity,

June 20, 2024

Al Fardan Exchange

Why predictive AI is a critical necessity in the field of cybersecurity

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

4 Open Banking platforms shaping the future of financial data in the US

Read More

Today

TerraPay & Thredd to power virtual card payments for the travel industry

Read More

Today

Mexican FinTech unicorn Clip secures $100m investment

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023