Implementation Across Credit Unions
AMLYZE’s platform will be rolled out across the network, which encompasses 44 credit unions and over 100 service points nationwide.
Core Supplier of Compliance Technology
This agreement officially designates AMLYZE as the main supplier for anti-money laundering (AML) and counter-terrorist financing (CTF) technology within LCKU, a group formally known as Lietuvos centrinė kredito unija.
Comprehensive Compliance Coverage
As part of this arrangement, the credit union group will deploy AMLYZE’s full suite solution. This includes real-time and retrospective transaction monitoring, PEPs screening, sanctions checks, negative media coverage assessments, customer risk evaluation, and case management tools for advanced AML investigations.
Commitment to Compliance
Officials from LCKU stated that their decision to implement the AMLYZE system reflects a commitment to enhancing transparency and ensuring compliance with both national and EU regulatory standards. They highlighted that adhering to AML processes is not only a legal obligation but also an institutional duty aimed at maintaining public trust in credit unions.
Significance of Deployment
According to representatives from AMLYZE, the deployment marks a significant milestone in their work with large-scale regulated financial institutions. The company noted that its modular platform is designed to support centralised financial organizations serving regional client bases.
About AMLYZE
Founded in 2019 and commercially launched late in 2022, AMLYZE offers Software-as-a-Service compliance tools tailored for the financial services industry. The company’s products were developed by a team with prior experience in regulatory supervision and law enforcement collaboration.
Standardizing Financial Crime Detection
Additionally, AMLYZE recently introduced AMLTRIX, a framework aimed at helping financial institutions standardize their approach to detecting and addressing financial crime. This initiative is intended to facilitate a more unified compliance strategy across different jurisdictions.
