Case Study: Azimo achieves improved AML risk management and reduced false positives with ComplyAdvantage

Azimo improved AML risk management and reduced false positives

Azimo, a payments company focused on affordable cross-border financial services, faced unreliable AML screening from their previous global data provider. The provider’s API frequently went down without warning, forcing Azimo to bypass the system and perform thousands of manual AML checks, causing payment delays, customer dissatisfaction and high false positives due to lack of whitelisting and a one-way API. To solve this they turned to ComplyAdvantage’s Screening and Ongoing Monitoring product.

ComplyAdvantage implemented a two-way RESTful API with real-time automated alerts, whitelisting, and an Adverse Media solution that uses machine learning to process more than 10 million webpages daily and match negative news in the native tongue to entities. The result for Azimo was faster onboarding, consolidated real-time risk profiles, fewer incorrect hits and manual reviews, individual user case management with audit logs for regulators, and an overall reduction in AML risk and improved customer experience thanks to ComplyAdvantage’s reliable platform and support.

Azimo

Maja Chaińska

Head of Compliance