Enabling Compliance at Scale: Castellum.AI Joins BaaS Association
Castellum.AI – a global sanctions, PEPs, adverse media and beneficial ownership screening solution – joins the BaaS Association to enable banks and fintechs to quickly and effectively comply with KYC/AML regulations
|
FOR IMMEDIATE RELEASE NEW YORK, NY - April 23, 2024 – Castellum.AI is excited to announce that it has joined the Banking as a Service (BaaS) Association, part of the Bankers Helping Bankers (BHB) network. Joining BaaS Association reflects Castellum.AI’s commitment to enabling sponsor banks and fintech partners to quickly, reliably and accurately comply with KYC and AML regulations globally. |
|
Castellum.AI has joined the BaaS Association at a pivotal time as regulators have increased scrutiny of BaaS relationships and there is an increased burden for compliance. As a solution provider, Castellum.AI is engaging with BaaS industry leaders to promote a compliance-first approach to embedded finance.
“Joining the BaaS Association is an excellent opportunity for us to leverage our existing work successfully scaling compliance operations at sponsor banks and enables us to provide insight on effective compliance strategies to the industry,” said Castellum.AI CEO and former OFAC official Peter Piatetsky.
“Our goal is to address some of the challenges BaaS banks and fintechs face around awareness, industry standards, and new technology as it emerges,” says Dave Mayo, Co-Founder of The BaaS Association. “Having new compliance solutions like Castellum.AI join the association strengthens our ability to help member banks and fintechs to leverage expertise and technologies.”
Compliance Built for Growing BaaS Programs
Castellum.AI has built the most accurate, reliable and fastest global risk data platform, enabling compliance teams to reduce false positives by 88%, mitigating operational strains as sponsor banks and fintechs rapidly scale their businesses.
The Castellum.AI platform provides global coverage of financial crime risk across sanctions, PEPs, adverse media, beneficial ownership and other risk data categories. This coverage enables parties to a BaaS relationship to easily tailor their screening based on risk exposure across customer types, services and geography.
With a developer-friendly API and product-led approach, anyone can immediately access and test Castellum.AI’s compliance data.
About Castellum.AI
Castellum.AI is a B2B compliance solution that helps businesses identify financial crime risks. With a global database covering sanctions, PEPs, adverse media, beneficial ownership and other risk data categories, compliance teams can easily screen customers, other counterparties and transactions to comply with AML regulations. Castellum.AI users can integrate risk data screening directly into existing core, CRM and case management systems or access via the Castellum.AI platform.
About The BaaS Association
The BaaS Association was founded in 2022 as part of the Bankers Helping Bankers network. It provides a unified voice for financial institutions currently engaged in the business of Banking-as-a-Service. The association promotes, supports, and advocates for BaaS sponsor banks which help serve millions of customers in a safe and compliant manner. The BaaS Association also helps establish sound bank-fintech partnerships, including those that provide banking services for underbanked and underserved communities. Visit www.baasassociation.com for more information.
Contact
Spencer Vuksic
Email: [email protected]
Phone: +1 971-244-2541
“Joining the BaaS Association is an excellent opportunity for us to leverage our existing work successfully scaling compliance operations at sponsor banks and enables us to provide insight on effective compliance strategies to the industry,” said Castellum.AI CEO and former OFAC official Peter Piatetsky.
“Our goal is to address some of the challenges BaaS banks and fintechs face around awareness, industry standards, and new technology as it emerges,” says Dave Mayo, Co-Founder of The BaaS Association. “Having new compliance solutions like Castellum.AI join the association strengthens our ability to help member banks and fintechs to leverage expertise and technologies.”
Compliance Built for Growing BaaS Programs
Castellum.AI has built the most accurate, reliable and fastest global risk data platform, enabling compliance teams to reduce false positives by 88%, mitigating operational strains as sponsor banks and fintechs rapidly scale their businesses.
The Castellum.AI platform provides global coverage of financial crime risk across sanctions, PEPs, adverse media, beneficial ownership and other risk data categories. This coverage enables parties to a BaaS relationship to easily tailor their screening based on risk exposure across customer types, services and geography.
With a developer-friendly API and product-led approach, anyone can immediately access and test Castellum.AI’s compliance data.
About Castellum.AI
Castellum.AI is a B2B compliance solution that helps businesses identify financial crime risks. With a global database covering sanctions, PEPs, adverse media, beneficial ownership and other risk data categories, compliance teams can easily screen customers, other counterparties and transactions to comply with AML regulations. Castellum.AI users can integrate risk data screening directly into existing core, CRM and case management systems or access via the Castellum.AI platform.
About The BaaS Association
The BaaS Association was founded in 2022 as part of the Bankers Helping Bankers network. It provides a unified voice for financial institutions currently engaged in the business of Banking-as-a-Service. The association promotes, supports, and advocates for BaaS sponsor banks which help serve millions of customers in a safe and compliant manner. The BaaS Association also helps establish sound bank-fintech partnerships, including those that provide banking services for underbanked and underserved communities. Visit www.baasassociation.com for more information.
Contact
Spencer Vuksic
Email: [email protected]
Phone: +1 971-244-2541
Source: FI FinTech Newsroom