Lithuania-based regtech AMLYZE has solid a partnership with Vinted Pay, the funds division of European on-line market for second-hand style and different items, Vinted.
Vinted Pay will use AMLYZE’s know-how to supply real-time and retrospective transaction monitoring and buyer threat evaluation throughout onboarding and fee processes.
Headquartered in Vilnius, Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024.
Lithuanian regtech AMLYZE introduced a partnership with Vinted Pay, the funds subsidiary of European on-line market for second-hand objects, Vinted. Vinted Pay will leverage AMLYZE’s know-how for real-time and retrospective transaction monitoring and buyer threat evaluation to make sure that Vinted Pay’s onboarding and fee processes meet AML/CFT necessities.
A number one second-hand style market in Europe and a self-described “go-to vacation spot for all types of pre-loved objects,” Lithuania’s Vinted provides an internet platform that connects hundreds of thousands of members throughout greater than 20 markets. Based in 2008, Vinted turned the nation’s first unicorn in 2019, and reached a valuation of greater than €5 billion with a €340 million fundraising spherical in October 2024. That very same 12 months, the corporate reported a lift in web income of 330%, exceeding €76 million.
“We’re proud to accomplice with Vinted, a key participant within the on-line market trade,” AMLYZE CEO and Co-Founder Gabrielius Erikas Bilkštys mentioned. “Now that Vinted Pay has efficiently joined our platform, our superior options will help Vinted Pay in sustaining strict compliance requirements, together with throughout onboarding processes, making certain it continues to be a protected and trusted platform for its customers. This collaboration underlines our dedication to offering world-class AML/CFT companies and bettering the prevention of economic crime throughout Europe.”
Launched in 2023, Vinted Pay is the newest initiative from Vinted, and is a part of the corporate’s technique to supply consumers and sellers throughout Europe with a safe, dependable fee possibility. Built-in into the Vinted App, Vinted Pay will make sure that members have entry to protected, environment friendly, and straightforward on-line transactions with the platform. Members will be capable of use Vinted Pay to buy second-hand merchandise on the Vinted platform or, as Vinted lately introduced, to allow members to switch funds from gross sales to a safe digital account. These funds can be utilized to make purchases on the Vinted platform or withdrawn to a private checking account outdoors of Vinted.
“Vinted Pay is devoted to offering a protected and dependable fee expertise for our group,” Vinted VP of Funds Modestas Tursa mentioned. “The experience and progressive know-how of AMLYZE helps guarantee we proceed to foster belief inside our platform as we step by step introduce and scale Vinted Pay throughout markets.”
Based in 2019 and headquartered in Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024. On the convention, the corporate demonstrated its anti-financial crime info sharing framework that leverages artificial information to facilitate AI mannequin coaching, testing of automated monitoring options, and extra.
Picture by Gantas Vaičiulėnas on Unsplash
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