Lithuanian P2P lending platform Savy taps Amlyze for compliance solutions
Lithuanian peer-to-peer (P2P) lending and crowdfunding platform Savy has selected Amlyze as its primary compliance solutions provider.
Savy partners Amlyze for compliance solutions
Bendras finansavimas, the operator of Savy, will utilise all of Amlyze’s core modules, including customer risk assessment, retrospective transaction monitoring, case management and international sanctions screening.
Founded in 2014, Savy claims to be the first P2P lending platform in the country and is supervised by the Bank of Lithuania. It claims to have disbursed more than €80 million in loans since its launch, with more than 40,000 investors and over 200,000 borrowers currently registered to the platform.
“Money laundering and terrorist financing requirements are becoming relevant not only for financial institutions directly involved in payments but also for all those businesses whose activities are closely related to the flow of financial transactions,” comments Gabrielius Bilkštys, CEO and founder of Amlyze.
Commenting on the partnership, Danatas Čerjazdanovas, CEO of Bendras finansavimas, adds that as regulation becomes more “stringent and controls more rigorous, we decided to entrust this task to market experts when planning our international expansion”.
