SendFriend, a B2B fintech company reinventing how companies send and receive cross-border payments, has acquired the assets of US compliance provider DigiPli for an undisclosed sum.
One of the first companies to settle payments on the blockchain, SendFriend is a financial services and technology company focused on providing a seamless business to business (B2B) payments solution for banks and financial institutions needing access to the US market.
Read: 5 Unconventional Ways To Make Money On Crypto In 2023
DigiPli’s technology boasts the ‘next generation’ AML model, where a single, trusted partner provides a bundled package of all the systems, staffing, tools and data a financial institution needs to design, implement and manage an efficient and robust customer onboarding program from start to finish. Now, this innovative technology will enable SendFriend to add a number of additional compliance-related features to expand its existing platform to deliver a more comprehensive payments-as-a-service offering.
SendFriend recognizes that many non-US companies face challenges sending and receiving international payments in a cost-effective and timely manner due to “complexity and risk.” This acquisition will enable SendFriend to embed additional compliance controls into its offering and assist in not only streamlining its cross-border payments business but also reducing risk.
“This acquisition brings another level of automation and technology to our sanctions screening and AML controls,” said David Lighton, SendFriend CEO and co-founder. “Our clients and sponsor banks will take comfort in our enhanced technology offering as we continue to scale our platform in 2023.”
Read: Cybersecurity Timeline and Trends You Should Know before Planning for 2023
“DigiPli was informed by decades of experience in compliance and international regulation. We developed our tech specifically to make it easier for fintechs to meet their compliance obligations and are excited it’ll be incorporated into SendFriend’s cutting edge payment infrastructure,” said Jeff Horvath, CEO of DigiPli, who will stay on as an advisor.
