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kevin. strengthens Transaction Monitoring with Sentinels

By Leandra Monteiro

June 09, 2022

  • A2A Payments
  • AML
  • Fenergo
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kevin.Sentinels, a Fenergo company has been appointed by payments FinTech kevin. to handle transaction monitoring compliance. The relationship means kevin. now detects suspicious transactions in real-time while ensuring compliance with local anti-money laundering (AML) regulations.

kevin.’s account-to-account (A2A) payment infrastructure solution, enabled by open banking, allows merchants to receive payments from more than 350 million people with bank accounts within 27 European countries. Currently, over 6000 merchants use kevin.’s payment infrastructure. Its goal is to improve security and convenience for consumers, and increase conversion, speed up settlement and lower transaction fees for merchants while bypassing card schemes.

To prevent fraudulent use of its services and meet European AML compliance requirements, kevin. must maintain strong customer due diligence, transaction monitoring, and client risk profiling procedures. These steps ensure that the company can identify suspicious and deny illegitimate transactions.

Sentinels equips kevin.’s AML officers with a modern tool that enables it to meet its regulatory needs and improve transaction monitoring. For example, rich client data insights built from Know Your Customer (KYC) and transaction data provide kevin. with a deeper understanding of its customers, enabling it to identify suspicious transactions with greater speed, frequency and accuracy.

Joost van Houten, CEO of Sentinels commented, “It’s a privilege to have another open banking-powered fintech adopt our transaction monitoring solution. We’re committed to helping kevin. continue its commendable ascent unimpeded by the threat of fraud and money laundering, with increased operational efficiency, and in line with Europe’s compliance requirements. It’s a vital role in kevin.’s journey that we’re thrilled to have been chosen to play.”

Mindaugas Gaulia, Head of Compliance at kevin., added, “Following a quick onboarding process, we’ve reaped the benefits of the flexible Sentinels platform. Its rules-based alerts are customizable, and the entire workflow is configurable to suit our business needs and the jurisdictions we serve, reducing the time and effort spent on investigations. kevin. has huge growth ambitions for our bank coverage and A2A payments products, and we see Sentinels as our future one-stop-shop compliance partner.”

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