FinXP, a European payments and banking service provider, has implemented the intelligent compliance technology solution ComplyRadar to enhance and automate transaction monitoring and help with case management.

FinXP, founded in 2014, is a Malta-based electronic money institution licensed by the MFSA. The company’s mission is to enable its customers to quickly and easily, make and receive payments in whatever form best suits them, wherever they are in the world. The company is registered with the European Payments Council and SWIFT. It provides a PCI-certified payment gateway, IBAN accounts, SEPA Direct Debit and SEPA Credit Transfer services, as well as expert payment consultancy services.

After experiencing rapid growth in its transaction volume, FinXP initiated a competitive selection process that involved examining several Anti-Money Laundering (AML) solutions. In the end, ComplyRadar was chosen for its automated solution that detects suspicious activity and risky transactions with a high degree of confidence, while minimising false-positives. Using ComplyRadar, FinXP will also be able to manage compliance cases and analyse suspicious transaction reports more efficiently.

Jens Podewski, CEO and co-founder of FinXP, commented that “good corporate governance is a priority for FinXP. Being compliant with ever-changing AML regulations and standards very much goes hand in hand with our vision of how we want to run FinXP. In light of the company’s growth, implementing ComplyRadar is an important step in scaling up our operations further. It will also help us with maintaining high supervisory standards, which is crucial as we want to preserve the company’s reputation as a secure and reliable payment processor that does not tolerate unethical business practices.”

Dr Vince Vella, CTO/O at Computime Software, authors of ComplyRadar, commented that “ComplyRadar is a leading player in the AML transaction monitoring space. The solution comprises of state-of-the-art technologies, including Artificial Intelligence, and has been proven to address the complex and ever-growing sophistication of the regulatory requirements. This ensures that FinXP can continue to grow their operations while guaranteeing that efficient and effective AML processes are adhered to.”

'Fintech' Related News Articles

01
INSIGHT Interview: Alan Cuschieri, Founder of Moneybase
FinanceMalta

by FinanceMalta

5th August 2022

Talent Feature: How education can keep up with finance transformation
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Copy House
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Muscat Mizzi Advocates
FinanceMalta

by FinanceMalta

5th August 2022

Member Spotlight: Fyorin
FinanceMalta

by FinanceMalta

5th August 2022

PrimeGlobal Named Association of the Year 2022 at IAB Awards ¦ Winning in Business with Advisory Culture.
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

25th July 2022

Picking The Right Content Marketing Agency For Your Tech Brand
Copy House Ltd

by Copy House Ltd

26th May 2022

What You Need To Know About Creating a B2B Buyer Persona
Copy House Ltd

by Copy House Ltd

26th May 2022

14th International Taxation Conference l organized by the Malta Academy for Taxation Studies & the Malta Institute of Management l 3rd May 2022
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

3rd May 2022

VC Shifts Operations To Regus Dragonara Business Centre
VC (VacancyCentre)

by VC (VacancyCentre)

6th April 2022

FinXP becomes a Shopware Technology Partner
FinXP

by FinXP

22nd March 2022

Webinar Fostering FinTech in Malta: Key Takeaways
FinanceMalta

by FinanceMalta

15th March 2022

FinXP and Trust Payments partner with Culpa Inkasso for innovative online debt collection solution
FinXP

by FinXP

10th March 2022

Technical Conference 2022 | March 9-11, 2022 | Budapest, Hungary
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

10th March 2022

PrimeGlobal Honored To Win In Three Categories At IAB Awards
Griffiths + Associates Ltd

by Griffiths + Associates Ltd

19th November 2021

FinTech – Building a Cluster of Global Repute
FinanceMalta

by FinanceMalta

22nd September 2021

Member Spotlight – Wamo: Making QR Code Payments Mainstream in Europe
FinanceMalta

by FinanceMalta

22nd September 2021

FinXP becomes a principal member of Mastercard
FinXP

by FinXP

9th September 2021

Malta & EU residence programme for digital nomads
1st Step Solution LTD

by 1st Step Solution LTD

10th August 2021

FinXP wins Malta’s Best Alternative Banking Award
FinXP

by FinXP

23rd July 2021

Roundtable Insights: Cyber security and Financial Services
FinanceMalta

by FinanceMalta

8th July 2021

Member Spotlight – Trust Stamp: Advancing Financial Inclusion in Emerging Markets from Malta
FinanceMalta

by FinanceMalta

8th July 2021

FinXP launches Real-Time Payments
FinXP

by FinXP

23rd June 2021

FinXP chosen as Banking Partner for Crypto Payment Solution Utrust
FinXP

by FinXP

13th May 2021

Member Spotlight – RiskDeck: Fintech Made in Malta
FinanceMalta

by FinanceMalta

29th April 2021

FinXP partners with CashtoCode, enabling digital merchants to accept cash payments
FinXP

by FinXP

14th April 2021

FinXP Releases Whitepaper on How Payments Strategy Enables Growth Into New Markets
FinXP

by FinXP

12th April 2021

Seamless Middle East 2020: An exclusive insight
Infocredit Group Limited

by Infocredit Group Limited

4th December 2020

Parliamentary Secretary for Financial Services and Digital Economy Clayton Bartolo launches the MFSA FinTech Regulatory Sandbox
FinanceMalta

by FinanceMalta

23rd July 2020

FinanceMalta’s chairman addresses FinTech Junction event in Berlin
FinanceMalta

by FinanceMalta

8th January 2020

Fintech: MFSA Circular to VFA Service Providers
FinanceMalta

by FinanceMalta

17th December 2019

FinanceMalta’s final BlockFinance event for 2019 delves into STOs
FinanceMalta

by FinanceMalta

6th December 2019

Malta places 1st in European Code Week for 3rd consecutive year 
FinanceMalta

by FinanceMalta

5th November 2019

Malta participates in Decentralized 2019 Conference in Athens
FinanceMalta

by FinanceMalta

5th November 2019

34 prospective Virtual Financial Asset (VFA) Service Providers submit letter of intent to obtain authorisation under the VFA Act
FinanceMalta

by FinanceMalta

4th November 2019

FinanceMalta kicks off Amsterdam Fintech innovation summit
FinanceMalta

by FinanceMalta

24th October 2019