Regulatory technology company and SaaS provider AMLYZE has partnered with Vinted Pay, the payment arm of Vinted, to expand payment infrastructure.

Vinted, headquartered in Lithuania, is an established platform for second-hand fashion items across Europe. AMLYZE’s advanced technologies will be integral to ensuring a compliant and secure implementation of Vinted Pay in various markets.

Focus on Compliance and Security

The integration of AMLYZE’s systems will enable real-time and historical transaction analysis as well as customer risk evaluation, crucial for adhering to anti-money laundering (AML) and combating financial terrorism (CFT) regulations. This collaboration aims to maintain stringent regulatory standards during the platform’s expansion.

AMLYZE has a team of seasoned professionals with backgrounds from esteemed institutions such as the European Central Bank, the European Banking Authority, the Financial Intelligence Unit, the Bank of Lithuania, and major financial firms. These experts will contribute their deep knowledge of regulations to develop tailored compliance solutions for Vinted Pay.

According to Gabrielius Erikas Bilkšty, CEO and Co-Founder of AMLYZE, this partnership is pivotal in maintaining high compliance standards as onboarding processes increase, thereby enhancing safety and user trust. It underscores AMLYZE’s dedication to providing sophisticated AML/CFT services and mitigating financial crime across Europe.

Modestas Tursa, Vice President of Payments at Vinted, highlighted that by leveraging AMLYZE’s expertise, the company can continue to build a platform where users feel secure when making transactions. This collaboration follows another partnership with European Merchant Bank, aimed at reinforcing AML and CFT frameworks.