Sentinels, Europe’s intelligent transaction monitoring and client risk management platform, has been selected by Rebellion Pay to enhance and streamline the leading Spanish neobank’s anti-money laundering (AML) compliance monitoring and risk profiling functions.
By consolidating transaction data from multiple environments into an all-in-one monitoring solution, according to programmable business rules, the Sentinels platform allows compliance supervising teams to generate next-level client risk profiles and more reliably identify suspicious transactions and client behavior.
Using the Sentinels platform, Rebellion Pay can generate comprehensive views of the transaction environments across its full range of payment services, including prepaid Mastercard debit transactions and peer-to-peer (P2P) payments, together with fiat-crypto exchange services offered by the digital bank for a growing number of cryptocurrencies.
By applying Sentinels’ AI and machine learning algorithms, Rebellion Pay will be able to assess client risk and accurately detect financial crime faster and more efficiently than ever before, driving down the cost of its AML compliance, increasing operational efficiency and, ultimately, eliminating all criminal behavior from its customer base.
“Sentinels is a dynamic, young and high growth start-up with a bright future,” commented Sergio Cerro, CEO and Co-Founder of Rebellion Pay. “We firmly believe that AI and machine learning will change the game in digital banking, and Sentinels is already confirming this belief in the transaction monitoring and client risk management space. The decision to work with Sentinels was easy to make. Its software is straightforward to use and crammed with cool features, and its level of customer care is second to none. We’re delighted to have them as our partner and firmly believe that we will see plenty more powerful and innovative products coming out of this company in the years to come.”
Joost van Houten, CEO of Sentinels, added “It is with great pleasure that we welcome Rebellion Pay, both our first neobank and our first Spanish customer, to the Sentinels ranks. Rebellion Pay is a true disruptor in financial services and shares our love for next-gen technologies. We greatly look forward to axing the firm’s exposure to client risk by ensuring no illicit activity goes undetected. By boosting the accuracy of the bank’s suspicious transaction detection, we will also help its teams zero-in on real criminal behavior, and kiss goodbye to the wasted days spent processing false-positive alerts.”
Over 280,000 customers across Spain use Rebellion Pay’s financial services. While the neobank is focused on the Spanish market, it holds an e-money institution license issued by the Bank of Lithuania – a regulator known for its particularly strict AML compliance requirements. With expert knowledge of the international, nuanced compliance regulations, and clients already active in Lithuania, Sentinels is well-positioned to support Rebellion now and into the future.
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Editor, Security Portfolio
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