Salv and Juni join forces to bridge the gap between safety and speed for a new risk landscape
By Puja Sharma
Salv, the RegTech company founded by Wise and Skype employees, has entered into a partnership with Swedish FinTech company Juni, the fast-growing financial companion for eCommerce, which is on its way to changing the future of financial services. Together, the two companies aim to raise the bar for adaptive risk mitigation in the finance sector.
Salv provides innovation in the compliance and anti-money laundering domain. With its origins in Transferwise (Wise), Salv has evolved to help banks and FinTechs upgrade their ability to detect, track, analyse and block financial criminals. Juni is a financial management platform tailor-made for e-commerce. It ties together physical and virtual cards, credit cards, accounting, analytics, and digital advertising platforms, giving businesses a holistic view of their finances.
Taavi Tamkivi, CEO and co-founder of Salv, said: “Unfortunately, financial crime is on the rise, especially with the lengthening pandemic and ongoing geopolitical crisis, criminals are looking for new ways to move their illicit money through the financial systems. Salv is excited that we can help Juni to scale its business by using our AML Platform to better predict and mitigate potential financial crime risks and help Juni better assess the possibly risky customer relationships with our AML solutions.”
In recent years, the eCommerce industry has seen explosive growth. But, where there are new opportunities for legitimate businesses, fraudsters and money launderers are never far behind. Criminal activity constantly seeks to exploit financial services for illicit gain. Though digital crime will always be part of the online space, companies like Juni are making a stand. Through its partnership with Salv, Juni strives to offer the best customer experience while depriving criminals of the room and the opportunity to operate.
Salv adds additional security to Juni’s platform through its monitoring platform and screening engine.
Patrick Ryan, FinCrime Director, Juni, said: “Juni’s vision is to be the financial companion for e-commerce. We want to create adaptive, fast, and clever solutions to promoting good behavior whilst penalising bad actors. We want to set a new standard for risk mitigation in the industry, there is no place on our platform for financial crime. We want to balance the ultimate user experience with a safe, secure, and responsible environment for our customers. Salv provides us with a comprehensive AML platform that is flexible, easy to use, and provides us with a much-needed speed when implementing changes.”
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