Skaleet and Salv partner to tackle money laundering
By Joy Dumasia
Skaleet, an international FinTech offering a next-generation Core Banking Platform (CBP), has announced its partnership with Salv, an Estonian RegTech company. This enables them to provide their customers with Anti-Money Laundering solutions (AML), including transaction monitoring, sanctions screening and risk scoring.
Hervé Manceron, CEO and Co-Founder of Skaleet, said: “Our Partnership with Salv will expand our capacity to fight money laundering and ensure we meet our obligations. The AML solutions will allow our customers to define the risk level at an early stage, screen transactions, and detect suspicious behaviours and transactions. Salv’s AML platform offers a three-in-one solution, it makes it more efficient and convenient for us, we don’t need to integrate with various additional solutions.”
Financial institutions, especially scaling FinTech’s, have the challenge of ensuring that they comply with numerous regulations across different countries. This normally entails employing multiple methods, platforms and checks etc., which is expensive and resource-intensive. A key part of anti-money laundering is institutions and banks sharing information to identify activity that should be checked. FinTech’s, as they grow, adapt, and change, need AML tools that do the same, but instead, they often have to use multiple providers with multiple solutions, all aimed at the same task.
Salv has designed anti-money laundering tools that enable financial institutions to have just one adaptable, user-friendly platform that helps them to strengthen their defences and minimises risks to their businesses. Salv offer flexibility within its tools, innovating and modernising alongside the growing needs of FinTech companies. Their technology is built to cover all needed for institutions to be compliant, reducing the resource burden and enabling them to focus on disrupting and stopping illegal activity.
Skaleet has designed a unique, cloud-agnostic, SaaS-based technology platform that works seamlessly with Salv, enabling them to offer their customers an anti-money laundering capability that is crucially compliant with financial regulations and effective. By partnering with Salv, Skaleet now allows banks and financial institutions to ensure they are compliant with anti-money laundering regulations and strengthens their ability to spot and stop illegal activity taking place through them.
Taavi Tamkivi, CEO and Co-Founder of Salv, said: “It’s great to see new innovative solutions emerging from the core banking industry, and we are really excited we can provide our AML and compliance expertise to make core banking platforms also more secure from financial criminals. For us, it is important to partner with experts who share our vision and ambition to help financial institutions across Europe to strengthen their defences against money laundering and financial crime. Skaleet was the perfect partner for us.”
IBS Intelligence reported that Skaleet, an international FinTech offering a next-generation Core Banking Platform (CBP), announced a partnership with PSP Lab, a European FinTech consulting company.
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