Global growth leads i-payout to bring on new capabilities to further insulate clients from financial and reputational risk
i-payout, the world’s leading provider of customized SaaS software for global disbursements and related payment management solutions is announcing the further enhancement of its in-house capabilities in the all-important areas of regulatory compliance and risk assessment. The Company’s is making this move in support of the rapid global expansion that it is experiencing in 2020.
Read More: Paysafe Group’s Petroleum Card Services wins PMCA of Kansas’ Associate of the Year award
“We have brought onboard the Bridger Insight suite of solutions – a product of LexisNexis – as well as the LexisNexis World Compliance Data product”, said Eddie Gonzalez, i-payout President/C.E.O, he continued, ”These powerful tools enable us to further insulate our clients and ourselves from risk – both reputational and financial”.
The Bridger Insight and World Compliance Data products are being focused on enhancing capabilities in two areas in which i-payout is already certified as having employed the industry’s best practices.
Read More: GlobalFintechSeries Interview with Veenerick Vos van Liempt, Founder, CEO at ZeroTouch Order and Pay
The first area falls under the Know Your Customer (KYC) heading. There are established KYC guidelines to follow and measures to take for the successful identification of bad actors – or even questionable ones – prior to establishing a business relationship. Failure to follow mandated KYC processes when working as a facilitator and manager of financial payments can not only expose a company to financial and reputational harm, it can result in a temporary or permanent shutdown of operations.
The second area where the LexisNexis products will be used is to help navigate in the ever-changing regulatory environment. Authorities in the United States and around the world have increased efforts to combat money laundering and the funding of terrorism. Anti-Money Laundering (AML) regulations and rules change frequently at the local, national and international levels. It is essential to stay in compliance with those changing regulations and rules – working with the Bridger Insight and World Compliance Data tools gives i-payout an increased ability to fully comply with regulations, world-wide.
