TransferMate selects ComplyAdvantage for AML and risk screening

By Joy Dumasia

TransferMate Global Payments, a leading global B2B payments technology solution provider, has selected ComplyAdvantage, a global data technology company transforming financial crime detection. Headquartered out of Kilkenny, Ireland, TransferMate is a subsidiary of Clune Technology Group founded by Terry Clune and is a leading global B2B payments technology firm enabling companies to send and receive cross-border payments faster and easier.  

Now more than ever before, fast-growing enterprises like TransferMate are implementing the best technologies and processes to reduce their risk profile as it relates to financial crimes and help accelerate service expansion with greater confidence.  

Simon McFeely, Chief Compliance Officer of TransferMate, said: “We selected ComplyAdvantage as they share the same vision as us to use ‘compliance as a competitive advantage’, and they support our mission to develop dynamic rules tuned to specific inherent vulnerability scenarios, ultimately providing a better customer service while keeping the bad guys out of our global payments infrastructure. It’s great to know that we have a risk management solution designed to keep pace with our rapidly growing business demands.”

Charles Delingpole, Founder and CEO of ComplyAdvantage, said: “We are excited to be partnering with TransferMate, a powerhouse in the world of B2B cross border payments. Clearly, their team values the importance of rigorous risk management solutions, which in our highly regulated environment is a strategic imperative. Now by working together, we can help reduce the risk of financial crime so that TransferMate can transact with trust and grow with confidence.”

Recently, IBS Intelligence reported that TransferMate Global Payments, a provider of payments infrastructure as a service, announced a new collaboration to introduce its cross-border payment experience to sellers and buyers of Alibaba.com, an eCommerce platform for global wholesale trade.