Ping Payments Chose Sentinels for Anti-Money Laundering Controls

Digital Payment, Digital Payment Platforms, Banking, Banking Services, Digital Banking, Digital Banking Platform, retail banking, AI, Cloud-based Systems, Banking-as-a-service, BaaS, Cloud Infrastructure, Digital Assets, AML, Anti money laundering,
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Sentinels, Europe’s pioneering intelligent transaction monitoring and client risk management platform, has been selected by Ping Payments, the Nordics’ major payments services provider for e-commerce and online transactions, to strengthen its anti-money laundering (AML) controls.

Joost van Houten, CEO, Sentinels, said, “The financial services space has become increasingly challenging in recent years, making transaction monitoring far more complicated. The operational efficiency demanded in online marketplaces is vital to Ping Payments’ business. Sentinels is delighted to support such a crucial requirement and to ensure the company’s ongoing compliance with AML regulation. Ping Payments is also our first Nordic partner, representing another proud milestone for Sentinels.”

Sentinels offer transaction monitoring solutions that are created to identify and eliminate transaction fraud. This new AI-driven solution of Sentinels puts the monitoring rules through a no-code sandbox before deploying them in real-time. It also consolidates all customer data into a single, easy-to-use profile that can be accessed right away with little training and allows for large-scale transaction monitoring.

Petter Sehlin, the CEO, Ping Payments, stated, “With compliance across new territories and verticals a requisite, combined with the reality that we had grown beyond our in-house monitoring solutions, the decision to choose Sentinels was easy to make. Sentinels’ machine learning approach to monitoring transactions allows us to scale our business without being held back by inefficiencies.” 

Read: The Need for Anti Money-Laundering Automation


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