3 years ago
Armalytix Raises $1 Million to Strengthen AML Solution
Armalytix, a London-based provider of an engine of proof for the digital economy, has secured $1 million in funding from new and existing investors
The company plans to use the funds to strengthen its Source of Funds offering, which helps firms stay on top of AML requirements and protect them from financial risks and reputational damage.
ProblemFinancial Services
"Financial institutions need to conduct Know Your Customer (KYC) and Anti-Money Laundering (AML) checks, but these checks can be slow, manual, and costly. They also often struggle with understanding the source of funds and the true nature of their clients. This can lead to reputational damage and financial losses. "
Solution
"Armalytix provides a solution that streamlines data collection and intelligence to provide financial insights for AML checks. This helps companies to complete checks at scale and stay on top of AML requirements, protecting them from financial and reputational risks."
