B2B fintech SendFriend, has acquired the assets of US compliance provider DigiPli for an undisclosed sum, allowing it access to the firm’s ‘next generation’ AML risk modelling process.
Under the model, a single partner can provide financial institutions with a bundled package of all the systems, staffing, tools and data necessary to design and implement a customer onboarding programme from start to finish.
The acquisition allows SendFriend add several additional compliance-related features to its existing platform and deliver a more comprehensive payments-as-a-service offering, the company said in a statement.
It comes as many non-US companies grapple with the challenges of efficiently sending and receiving international payments due to complexity and risk.
“This acquisition brings another level of automation and technology to our sanctions screening and AML controls. Our clients and sponsor banks will take comfort in our enhanced technology offering as we continue to scale our platform in 2023,” said David Lighton, SendFriend CEO and co-founder.
With Jeff Horvath, CEO of DigiPli staying on as an advisor, he added, “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.”
