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B4B Payments partners with Sentinels to support AML compliance

By Joy Dumasia

December 06, 2021

  • AML
  • B4B Payments
  • Compliance
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Sentinels, Europe’s leading transaction monitoring platform, announced a partnership with global card issuing solutions for businesses, B4B Payments. The Sentinels platform will facilitate B4B Payments in meeting anti-money laundering (AML) compliance requirements by improving the accuracy of fraudulent transaction detection across its portfolio of products.

Sentinels were selected due to their ability to monitor transactions globally, together with the platform’s highly adaptable risk-based approach, which results in quicker and more accurate identification of fraudulent transactions. Sentinels optimise AML and transaction monitoring processes and generate real-time insights to streamline workflows and compliance. Rules-based alert shaping reduces the number of false positives and provides a more transparent, more comprehensive view of the transaction environment. 

B4B Payments requires a flexible AML solution that meets the monitoring requirements of the company’s diverse product and customer range encompassing both corporate accounts and individual cardholders. The solution must also be scalable to support its increasing number of transactions as it expands its portfolio of payment solutions for businesses.

Paul Swinton, CEO at B4B Payments, said: “The AML solution from Sentinels offers an intuitive environment for our compliance officers to monitor transactions, as well as the ability to easily edit monitoring rules. As compliance requirements become more stringent across Europe, partnering with Sentinels ensures that we are in the strongest position to meet these obligations and provide our stakeholders with the highest assurance that we are committed to supporting anti-money laundering efforts across the board.” 

Joost van Houten, CEO of Sentinels, said: “We’re excited to onboard B4B Payments to provide highly accurate data-driven insights that improve AML detection rates and increase efficiency across compliance workloads. Our partnership stems across multiple jurisdictions, enabling B4B Payments to operate in line with the varying AML requirements of its current regulators, the UK’s Financial Conduct Authority and the Bank of Lithuania. We look forward to providing the nuanced support required as it expands its services further across the globe.” 

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