About the Case Study
This case study provides information on how the Sanction Scanner helps to fintechs to ensure AML and KYC compliance. Guulpay is a fintech business and Guulpay provides cross-border transfer service, e-wallet service, mobile wallet service and bill payment services. In this case study, you can examine the challenges Guulpay faced in AML compliance processes and the solutions it has implemented.
Financial Technologies continue to change people's habits with its easy, fast, and competitively priced solutions. However, fintech startups and companies have increased the number of customers and the fintech industry has grown significantly in recent years.
AML Regulations in Fintech Sector
Fintech companies are subject to Anti-Money Laundering (AML) regulations of regions they serve while providing these services. The use of services provided by financial technology companies as a potential crime method by criminal organizations has made it necessary for fintech companies to play an effective role in combating financial crimes. Therefore, financial organizations providing services in the fintech industry have to fulfill their AML obligations in the regions they serve to ensure AML compliance.