HUBUC Partners with ComplyAdvantage to Enhance its Compliance Capabilities

  • Artificial Intelligence , Banking , Compliance , Risk Management
  • 05.05.2021 11:20 am

Next generation banking-as-a-service platform, HUBUC, has partnered with the hyper-scale Anti-Money Laundering (AML) and risk detection provider ComplyAdvantage to integrate its innovative compliance and security screening technology.

HUBUC is an embedded financial services provider that enables businesses to integrate multiple payment capabilities from a single platform. A key feature of HUBUC’s offering is managing all regulatory compliance on behalf of its customers - saving them the investment in time, implementation and resourcing. The long-term savings are significant as, according to the Ponemon Institute1, the cost to a business of not meeting compliance standards (including fines settlements, business disruption, productivity loss, and revenue loss) is around 2.71 times higher than the cost of compliance.

The partnership will enable businesses using HUBUC’s platform to seamlessly benefit from ComplyAdvantage’s innovative global sanctions screening technology. This uses real-time proprietary AML data and sophisticated, configurable matching technology to track companies or entities and ensure businesses are measuring risk against the latest available information and are therefore protected. 

As HUBUC has a wide international footprint facilitating payments across 54 territories, the partnership will help bolster its clients’ international compliance processes - with real-time access to the latest information, watch lists and regulation.

Justine Gilder, Head of Compliance, HUBUC commented: Offering complete compliance management for our business customers is one of the unique, core and most in-demand features on our platform, so we needed a partner that is at the top of its game. Our customers come to us for a suite of payment capabilities that they can use on an international scale, so it’s important to both us and them that we provide it in the most safe and secure way. ComplyAdvantage is one of only a small number of proprietary global AML data providers in the world, making it the perfect fit for HUBUC and our customers.”

“HUBUC is a great example of a fintech that’s enabling companies to accelerate new embedded finance services to market using their powerful API technology and unified platform,” said Charles Delingpole founder and CEO of ComplyAdvantage. “Which is why we are excited to be working with their team by providing access to our award-winning hyper-scale AML and risk detection solutions.  Together we can reduce the threat of financial crimes so businesses can transact with trust and grow with confidence."

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