AMLYZE selected by KREDA as compliance software provider

By Gloria Methri

KREDA, one of the largest United Central credit unions in Lithuania, has selected RegTech 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 the 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 the KREDA group and AMLYZE’s aspiration to provide solutions specifically tailored to the needs of its clients, that altogether include multi-dimensional task management tools.

Gabrielius Bilkštys, CEO and co-founder of AMLYZE said, “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.”

Jolita Česonienė, Head of Administration and Member of the Board at KREDA said, “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,” said

KREDA will use all of AMLYZE’s key modules for transaction monitoring, customer risk assessment, case management, and sanctions screening for its daily compliance needs.