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Case Study – Paytron

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Paytron is a regulated financial services provider and B2B platform offering workflows for accountants and finance functions with built-in Accounts Payable/Accounts Receivable, global payments, expense management and cards, invoicing and bills, Paytron replaces up to 7 individual applications in one easily integrated platform.

Paytron was an early adopter of AML Accelerate and hasn’t looked back. AML Accelerate was chosen as it provided a cost-effective and intuitive solution to develop and maintain an AML/CTF Program without overwhelming resource demands.  It also allowed for efficient updates in response to regulatory changes, and accommodating business growth while offering scalability for expansion into new regions and product lines.

Objectives 

  • To develop and maintain a working AML/CTF Program without being resource-intensive
  • To establish a set of methodologies that could be efficiently updated in line with key regulatory drivers
  • As an early-stage business, ensure that typologies and risk matrices can be evolved in line with business growth and complexity

The Solution

AML Accelerate was selected as it;

  • Met all the above objectives in a cost-effective and intuitive way
  • Whilst also providing the ability to scale to an enterprise level as our business moved into new geographies and products

The Result

  • A fully compliant foundation was established for Paytron’s ongoing risk assessments and program updates
  • In addition, they’ve been able to add an additional program simply for their subsequent NZ market entry
  • Retention of an up-to-date repository of jurisdictional risks, associated documents, previous program versions and approvals
  • Paytron has expressed confidence that regulatory changes are captured in all their ongoing program updates, CDD standards and risk assessments
  • Paytron found working with Arctic Intelligence easy to engage with, responsive, and cost-effective with quality products

Client Testimonial

“The challenge of meeting an ever-evolving landscape of AML compliance obligations is made significantly more achievable for startups and mature businesses alike by tools such as AML Accelerate. Arctic Intelligence has helped Paytron sustain a ‘compliance by design’ mantra right from our early days to now being part of a listed Group.”

Stu Hallows, Chief Risk Officer