AMLYZE, a leading RegTech specializing in anti-financial crime solutions for FinTechs, banks and crypto businesses, will provide money laundering prevention and compliance solutions to the first and largest Lithuania’s specialized online payment platform “Viena Saskaita“.
“Viena Saskaita”, which operates in a segment with fundamentally low money laundering and terrorist financing (ML/TF) risks – utilities payments and tax collection – will use all of AMLYZE’s key service modules: client risk assessment, transaction monitoring (both real-time and retrospective), case management and international sanctions screening.
“Money laundering prevention is primarily perceived as an obligation for banks, but the agreement with “Viena Saskaita” proves once again that it is also relevant for other regulated entities that are legally obliged to apply the highest compliance standards, regardless of whether they face low or elevated ML/TF risks,” says Gabrielius Bilkštys, CEO and founder of AMLYZE.
AMLYZE’s client portfolio includes various types of institutions with different ML/TF risks: in addition to financial and credit institutions, it also includes cryptocurrency service providers and peer-to-peer lending platforms. The Law on the Prevention of Money Laundering and Terrorist Financing in Lithuania requires compliance in more than 10 different business sectors.
“Viena Saskaita”, with an active user base of more than 220,000, chose AMLYZE compliance solutions not only for their relevance, but also for their comprehensiveness, i.e., the ability to receive all the necessary services to enable compliance from a single service provider.
“The geopolitical events of recent years, the situation in Ukraine and the growing threat of support for terrorist organizations have prompted us to change our processes and entrust anti-money laundering controls to a partner that focuses exclusively on this area. We believe that AMLYZE’s experience and expertise in developing solutions to combat financial crime will help us quickly identify suspicious payments and optimize our processes, thus creating value for both businesses and consumers,” says Aušra Čiuplienė, CEO of “Viena Saskaita”.
