Bahrain-based fintech and electronic financial transactions provider BENEFIT has signed an agreement with compliance technology platform AMAN to strengthen its anti-money laundering, due diligence and financial crime risk management operations.
Under the agreement, BENEFIT will use AMAN’s platform, powered by financial crime management technology provider Themis. The system will bring onboarding, customer due diligence, screening and risk assessment into one environment.
According to the announcement, the unified platform is expected to give BENEFIT greater visibility across compliance cases while improving the consistency and efficiency of regulatory processes. It will also support the integration of information, assessments and oversight activities across its compliance operations.
BENEFIT CEO Abdulwahed AlJanahi said the agreement supports the company’s efforts to strengthen governance and compliance as financial crime risks evolve. He said integrated technology can help organisations analyse information more effectively and support timely oversight.
AMAN Group CEO Dickon Johnstone said BENEFIT’s role in Bahrain’s financial ecosystem made it a natural partner for the platform. He added that the collaboration would support stronger governance, oversight and organisational readiness across the financial sector.
The agreement comes as digital payments increase the need for scalable systems covering customer verification, screening and risk management.
Source: MEA Tech Watch
