DUBAI, United Arab Emirates, Sept. 29, 2015 / PRNewswire — Wynyard Group has won a contract for its Anti-Money Laundering (AML) software with Bin Belaila Exchange, a leading financial services company operating in money exchange, remittance and commodity trading.
Bin Belaila selected Wynyard’s AML software to help it meet strict regulations requiring financial service providers to prevent or detect transactions made by criminals attempting to launder money or finance terrorism. Failure to meet these complex regulations could mean a halt in trading, reputational loss as well as tough financial penalties.
Bin Belaila Exchange Head Of Compliance, Muhammad Ali, said, “Bin Belaila Exchange is rapidly expanding with new branches planned across the Middle East. The company needed an AML solution which is easy for staff to use and would help facilitate business growth whilst meeting strict regulatory requirements.
“By partnering with Wynyard, we are armed with the top tools in the industry to best protect our business and customers from financial crime. Wynyard will help us meet worldwide compliance and regulatory standards so we can focus on growing our business and delivering excellent customer service.”
Wynyard’s AML solution will deliver a comprehensive service for detecting, investigating and reporting suspicious activities, backed by local support. Designed for use by financial institutions, the solution is simple and fast to deploy and is unique in its ability to utilise visualisations, advanced analytics and data integration.
Wynyard Group CEO Craig Richardson, said, “We are delighted to be working with Bin Belaila Exchange to help it effectively manage the new regulatory process for financial service providers.
“By helping it meet its compliance obligations by better monitoring cash flows through the UAE financial system, the company can be even more effective in preventing or detecting any suspicious activity.”
Mr Richardson went on to say that Wynyard is experiencing growing demand for its advanced crime analytics SaaS solution, particularly in the United Kingdom and Middle East.
The software provider has a market leading Financial Crime team experienced in developing solutions for complex corporate fraud, money laundering and countering funding of terrorism investigations. These allow Wynyard clients access to the sophisticated global knowledge, plus the skills and experience for supporting local, national and trans-national financial crime detection and prevention.
About Wynyard Group
Wynyard Group is a market leader in serious crime fighting software used by customers in government security, justice, law enforcement, financial services and critical national infrastructure.
Its powerful advanced crime analytics and investigations case management products help customers prevent and solve serious financial crime, organised and trans-national crime and new generation threats from extremism and high consequence cyber crime.
Wynyard partners with major systems integrators and some of the world’s leading software companies and has operations in the United States, United Kingdom, Canada, Middle East, Australia and New Zealand. For more information visit www.wynyardgroup.com