PhotonPay Integrates AI-Powered AML and Risk Engine to Enhance Global Payment Solutions
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PhotonPay deploys AI-powered AML and Risk engine
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. PhotonPay, a leading digital financial infrastructure provider, drives innovation through global licenses, strategic partnerships with top financial institutions, and local teams delivering secure and scalable payment solutions worldwide PhotonPay integrates AI-powered AML and Risk engine that enhances the speed and efficiency of its "Know your Customer" (KYC) and onboarding processes. The new tool reduces 'false positives' by an average of 50%, while enhancing customer on-boarding experience. Leveraging artificial intelligence (AI) technology, PhotonPay has further streamlined anti-money laundering (AML) and counter-terrorism financing (CFT) processes, enhanced its risk management system and effectively reduced financial crime risks. This initiative significantly improves operational efficiency while adhering to world-class compliance and risk standards such as PCI-DSS Level 1, FATF and more. For e-commerce leaders like Lili Bridals, tokenization and PCI-certified flows secure high-value transactions; for logistics giants like Zongteng, AI-driven fraud detection reduces chargebacks by 30%; and for advertising platforms such as Cheetah Mobile Inc, privacy-preserving frameworks reduce GDPR non-compliance risks by 99%. With a strong compliance culture and technological innovation capabilities, PhotonPay has become a trusted partner of over 200,000 customers worldwide, with an annual transaction volume of more than US$20 billion. "Compliance is the foundation of trust in global payments. At PhotonPay, we ensure that our global payment solutions comply with global regulatory standards," said JP, Global Co-Head of Legal, Compliance, AML and Risk at PhotonPay, "We are committed to adhering to international regulatory standards and will continually enhance our compliance and risk control capabilities to enable our clients to operate with confidence globally." Through international payment licenses and strategic partnerships with leading financial institutions, PhotonPay integrates compliance into every aspect of its operations, enabling businesses to operate smoothly while mitigating financial and reputational risks, and continues to help businesses to thrive in the digital economy.
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PhotonPay Enhances Global Payment Solutions with Robust Compliance and Risk Solutions
Enter your email to get Benzinga's ultimate morning update: The PreMarket Activity Newsletter HONG KONG, Feb. 17, 2025 /PRNewswire/ -- Fintech compliance is an increasingly important aspect of the financial industry. As the fintech industry continues to grow and evolve, so do the demands for regulatory compliance. PhotonPay, a leading digital financial infrastructure provider, drives innovation through global licenses, strategic partnerships with top financial institutions, and local teams delivering secure and scalable payment solutions worldwide. PhotonPay integrates AI-powered AML and Risk engine that enhances the speed and efficiency of its "Know your Customer" (KYC) and onboarding processes. The new tool reduces 'false positives' by an average of 50%, while enhancing customer on-boarding experience. Leveraging artificial intelligence (AI) technology, PhotonPay has further streamlined anti-money laundering (AML) and counter-terrorism financing (CFT) processes, enhanced its risk management system and effectively reduced financial crime risks. This initiative significantly improves operational efficiency while adhering to world-class compliance and risk standards such as PCI-DSS Level 1, FATF and more. For e-commerce leaders like Lili Bridals, tokenization and PCI-certified flows secure high-value transactions; for logistics giants like Zongteng, AI-driven fraud detection reduces chargebacks by 30%; and for advertising platforms such as Cheetah Mobile Inc, privacy-preserving frameworks reduce GDPR non-compliance risks by 99%. With a strong compliance culture and technological innovation capabilities, PhotonPay has become a trusted partner of over 200,000 customers worldwide, with an annual transaction volume of more than US$20 billion. "Compliance is the foundation of trust in global payments. At PhotonPay, we ensure that our global payment solutions comply with global regulatory standards," said JP, Global Co-Head of Legal, Compliance, AML and Risk at PhotonPay, "We are committed to adhering to international regulatory standards and will continually enhance our compliance and risk control capabilities to enable our clients to operate with confidence globally." Through international payment licenses and strategic partnerships with leading financial institutions, PhotonPay integrates compliance into every aspect of its operations, enabling businesses to operate smoothly while mitigating financial and reputational risks, and continues to help businesses to thrive in the digital economy. About PhotonPay Founded in 2015, PhotonPay is a digital financial infrastructure provider offering global payment solutions to businesses. Our innovative core products include Global Accounts, Card Issuing, Online Payments, Payouts, FX Management and Embedded Finance. PhotonPay has become a Mastercard issuer in Hong Kong and the fintech card issuer in the Greater China region of Discover® Global Network. With a strong compliance culture and technological innovation capabilities, PhotonPay is building a digital payment network to take the friction out of global payments and enhance operational efficiency for businesses operating on a global scale. Headquartered in Hong Kong and providing localized services through nine international offices, PhotonPay partners with a network of top-tier banks and global financial institutions and serves more than 200,000 customers globally. https://www.photonpay.com/en/ View original content to download multimedia:https://www.prnewswire.com/news-releases/photonpay-enhances-global-payment-solutions-with-robust-compliance-and-risk-solutions-302377944.html SOURCE PhotonPay Market News and Data brought to you by Benzinga APIs
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PhotonPay, a digital financial infrastructure provider, has implemented an AI-powered anti-money laundering (AML) and risk engine to improve its Know Your Customer (KYC) processes and enhance compliance measures for global payment solutions.
PhotonPay Introduces AI-Powered Compliance Solution
PhotonPay, a leading digital financial infrastructure provider, has announced the integration of an artificial intelligence (AI) powered anti-money laundering (AML) and risk engine into its global payment solutions. This innovative move aims to enhance the company's "Know Your Customer" (KYC) processes and strengthen its compliance measures 1.
Enhanced Efficiency and Reduced False Positives
The newly implemented AI-powered tool has significantly improved PhotonPay's operational efficiency. According to the company, the system has reduced 'false positives' in its AML screening by an average of 50%, leading to a smoother customer onboarding experience 2. This improvement not only streamlines the onboarding process but also maintains high standards of compliance and risk management.
Comprehensive Compliance and Risk Management
PhotonPay's AI-driven system goes beyond AML, encompassing counter-terrorism financing (CFT) processes and overall risk management. The company adheres to world-class compliance and risk standards, including PCI-DSS Level 1 and FATF guidelines. This comprehensive approach has positioned PhotonPay as a trusted partner for over 200,000 customers worldwide, processing an annual transaction volume exceeding US$20 billion 1.
Real-World Impact on Diverse Businesses
The implementation of AI-powered solutions has yielded tangible benefits for PhotonPay's clients across various sectors:
- E-commerce: For companies like Lili Bridals, PhotonPay's tokenization and PCI-certified flows secure high-value transactions.
- Logistics: AI-driven fraud detection has reduced chargebacks by 30% for logistics giants such as Zongteng.
- Advertising: Privacy-preserving frameworks have reduced GDPR non-compliance risks by 99% for platforms like Cheetah Mobile Inc 2.
Global Expansion and Regulatory Compliance
JP, Global Co-Head of Legal, Compliance, AML and Risk at PhotonPay, emphasized the company's commitment to global regulatory standards. PhotonPay's strategy involves obtaining international payment licenses and forming strategic partnerships with leading financial institutions. This approach allows the company to integrate compliance into every aspect of its operations, enabling businesses to operate globally while mitigating financial and reputational risks 1.
About PhotonPay
Founded in 2015, PhotonPay has rapidly grown to become a significant player in the digital financial infrastructure space. The company offers a range of services including Global Accounts, Card Issuing, Online Payments, Payouts, FX Management, and Embedded Finance. Notable achievements include becoming a Mastercard issuer in Hong Kong and the fintech card issuer for Discover® Global Network in the Greater China region 2.
With headquarters in Hong Kong and nine international offices, PhotonPay continues to expand its global reach, aiming to reduce friction in global payments and enhance operational efficiency for businesses operating on an international scale.
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