ComplyAdvantage launches new AML program for growth-focused startups

By Megha Bhattacharya

ComplyAdvantage today announced a new early-stage anti-money laundering (AML) program aimed at growth-focused startups called ComplyLaunch. The company stated that the program provides qualified startups with free access to the company’s award-winning AML and Know Your Customer (KYC) tools and resources needed to uncover and reduce the threat of money-laundering activities so they can onboard new customers with lower risk and greater trust.

“At ComplyAdvantage, we believe that free early access to AML tools and education on setting up a compliance program is a benefit to our entire fintech ecosystem,” said Charles Delingpole, founder and CEO of ComplyAdvantage. “By democratising access to best in class financial crime prevention tools, we are allowing fintech startups to not only match but exceed the compliance program standards of the largest, most regulated banks. ComplyLaunch is a very important program designed to maintain the integrity of FinTech insurgents by reducing the growing threat of financial crimes.”

ComplyAdvantage has partnered with the global financial crime compliance consultancy FINTRAIL to provide AML education and ongoing training for program participants. FINTRAIL is a recognised authority on financial crime prevention in financial technology (FinTech) and the application of regulatory technology (RegTech), working with industry leading clients across the globe to transform, build, scale, and assure AFC compliance frameworks that are relevant for digital products.

“Because we’re focused on simplifying bank payments between friends, family, customers and businesses it made complete sense for our team to join the ComplyLaunch program,” said Pete Bailey, founder and CPO of Juno. “Partnering with ComplyAdvantage to implement their gold-standard AML detection solution means that we can on-board customers with greater confidence.”

“We’re excited to join as a launch partner for ComplyLaunch and to provide program members with access to our world-class AML training”, said James Nurse, Managing Director of FINTRAIL EMEA. “There are future fintech unicorns waiting to grow and early money-laundering and risk prevention resources will only help them to reach their success, faster.”