New York Metropolis-based fintech startup Sandbar has launched its anti-money laundering, fraud and counter-terrorism threat detection software program off the again of a $4.8 million seed spherical.
Sandbar says its product permits organisations to fortify their AML programme, figuring out dangers and offering simpler fashions to precisely establish suspicious behaviour throughout services.
The agency presents an API-based plug-and-play choice for monetary services, slicing the necessity for engineering assets, and consolidates a number of compliance merchandise to avoid wasting assist money and time.
Brock Bontrager, CEO, Sandbar, says: “Transaction monitoring is hard, but it surely doesn’t need to be. It’s the muse of any profitable AML program, and it’s simplest for the monetary establishment and broader ecosystem when it’s simple to combine, perceive, and use.
“It’s unlucky to see nonetheless so many threat and compliance groups resource-constrained and depending on guide instruments, particularly now. With restricted instruments and elevated rules, fintechs and banks are weak to threats and falling wanting their regulatory obligations.
“With a easy integration, Sandbar offers entry to holistic, scalable, and defensible transaction monitoring throughout monetary services so organizations can scale their enterprise safely.”
