KREDA, one of the Lithuania’s largest credit unions within the United Central network, has selected AMLYZE as its provider of anti-money laundering and compliance services. This development marks AMLYZE’s inaugural partnership with a wide array of financial institutions and the debut of their recently crafted multi-layer transaction monitoring solution, known as the Banking-as-a-Service (BaaS) monitoring solution.
This agreement signifies KREDA’s commitment to modernise and standardise compliance practices across all 14 credit unions within the KREDA group. It also highlights AMLYZE’s dedication to tailoring solutions to meet the unique requirements of their clients, including multifaceted task management tools.
Gabrielius Bilkštys, AMLYZE’s CEO and co-founder, emphasized, “This partnership underscores our dedication to assisting organizations like KREDA in navigating the intricate regulatory landscape, identifying financial misconduct, and upholding the highest levels of compliance. Together, we will bolster their financial integrity and fortify their operations against money laundering risks, solidifying our position as a trusted industry leader.”
Jolita Česonienė, Head of Administration and Member of the Board at KREDA, stated, “Preventing money laundering and terrorist financing stands as one of our top priorities. The agreement signed with AMLYZE, a Lithuanian company specialising in money laundering prevention solutions, not only empowers the KREDA Group to enhance its anti-money laundering and anti-terrorism initiatives but also elevates them to a higher echelon.”
KREDA will fully utilise AMLYZE’s essential modules for transaction monitoring, customer risk assessment, case management, and sanctions screening to meet its daily compliance requirements.
