PPRO forms agreement with Sentinels to bolster AML controls

Local payments infrastructure provider PPRO has established a strategic partnership with Sentinels to improve its own anti-money laundering (AML) controls.

The deal, which includes a minority investment, will enhance the AML controls for PPRO and its customers to give quicker response times to suspicious transactions. Through the deal, PPRO customers will have full access to Sentinels platform.

Through AI and machine learning technology, FinTechs, payment service providers, remittance companies and challenger banks leverage Sentinels to manage risk and fulfil compliance obligations.

Its technology monitors transactions, builds rich behavioural profiles, detects suspicious activity and automatically generates recommended next steps.

PPRO CEO Simon Black said, “the Sentinels’ platform and machine learning-generated insights will give our risk and compliance teams a streamlined workflow. Being able to detect money laundering and other financial crime risks in real time is incredibly valuable to our customers.

“That’s why we’re delighted to invest in and begin building a strategic relationship with Sentinels, who have proven to be an innovative firm with an extremely powerful product.”

Sentinels recently signed a deal with TerraPay, which marked its first arrangement with a B2B payments and remittance company. This deal sees Sentinels deploy its technology to help TerraPay improve its transaction monitoring capabilities.

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