23rd October 2017

InterPayTech partners with AI-driven Regtech, ComplyAdvantage, to enhance AML compliance

Mauritian FinTech cross-border payment platform, InterPayTech (IPT) today announced a partnership with AI-driven RegTech ComplyAdvantage, the world’s only provider of AI-driven AML risk data, to help automate and comply with global AML regulations. The partnership allows for real-time screening of customers against global sanctions, Politically Exposed Persons (PEPs) and adverse media information on beneficiaries for payments processed through IPT’s payment platform. IPT provides its low-cost cross-border payment platform to the global alternative investment space, fund administrators, wealth managers and High-Net-Worth-Individuals (HNWI). Clients can dramatically reduce the cost of payments compared to traditional banking channels with the ability to make payments in over 30 currencies to 212 destinations.

Mark O’Sullivan, CEO, said: “As Mauritius continues to position itself as a FinTech Hub, Regtech will play a vital role in improving customer experiences in onboarding and ongoing transaction monitoring processes, without compromising on security and compliance. We are proud that InterPayTech continues to be the pioneer in the region for FinTech innovation and our new partnership with ComplyAdvantage only strengthens our offering and enables us to provide the speed and efficiency our customers expect, while ensuring that robust safeguards are in place to protect against the risks of money laundering and terrorist financing. In looking for a RegTech partner ComplyAdvantage’s cutting edge AI- driven solution, richness of data, and its ability to strengthen our current back-end compliance just stood out as the market leading RegTech solution. We know this partnership will allow us to scale up our global operations and protect the company and its customers from financial crime, as we enter new markets and connect a growing number of people and companies internationally to our payment platform.”

Charles Delingpole, ComplyAdvantage CEO said: “We are delighted to be partnering with InterPayTech, an exciting innovator in the cross-border payments space and African FinTech market. Far from being a barrier, by automating AML/CTF compliance with ComplyAdvantage, ITP can leverage the latest in RegTech to deliver ultra-fast payments and accelerate FinTech innovation to create more value for their clients. We are proud to bring our expertise and next generation technology to support the strengthening of the AML/CTF framework in Mauritius, and help protect their financial services sector from crime.”

About InterPayTech:

InterPayTech (IPT) provides the alternative investment services market with a cloud-based FinTech cost saving solution for making international payments, giving clients control over the pricing and delivery of their cross-border payments compared to traditional banking channels. Live pricing in over 35 currency pairs and either SWIFT or domestic payment options are accessed 24/5 via IPT`s cloud-based solution.

Founded in 2015 and headquartered in Mauritius IPT works globally with clients in the Fund Management, Family Office, Wealth Manager and HNWI space.


About ComplyAdvantage:

ComplyAdvantage helps firms make intelligent choices when complying with regulations relating to sanctions, money laundering (AML) and terrorist financing (CFT).

They use Artificial Intelligence and machine learning to produce higher quality AML risk data on individuals, organizations and associated entities. Their solutions enable companies to improve how they onboard and monitor clients, screen payments and monitor transactions by reducing false positives and speeding up processes, all delivered by flexible modern APIs.

Founded in 2014 with offices in London, UK and New York, USA ComplyAdvantage works globally with some 200 firms in the financial markets and other regulated high-risk sectors.
ComplyAdvantage is a trading name of IVXS UK Ltd
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For more information contact: press@complyadvantage.com