Kreda has chosen Lithuanian regtech company Amlyze as its preferred provider of anti-money laundering and compliance services, aiming to modernize its compliance standards.
Facts
- Kreda, one of Lithuania’s largest united central credit unions with €500 million in assets under management, consists of 14 credit unions.
- Kreda will utilize Amlyze’s Banking-as-a-Service (BaaS) multi-layer transaction monitoring solution for compliance and risk assessment.
- This partnership is Amlyze’s first with extensive geographical coverage and product portfolio.
- Amlyze has previously partnered with entities like Salt Edge and Skaleet and secured $1 million in pre-seed funding in May.
- Amlyze aims to assist Kreda in navigating regulatory challenges, detecting financial crime, and ensuring compliance.
- Kreda’s key priorities include preventing money laundering and terrorist financing, aligning with legal requirements for fund origins and transactions.
