Pelican Partners with Banking Labs to bring AI-based payments and compliance solutions to the Canadian market

Pelican Partners with Banking Labs to bring AI-based payments and compliance solutions to the Canadian market
01.04.2020 09:10 am

Pelican Partners with Banking Labs to bring AI-based payments and compliance solutions to the Canadian market

Payments

 Pelican, a leading provider of payments and financial crime compliance solutions for banks and corporates, today announced that it has signed a partnership agreement with Banking Labs in Canada.

The strategic partnership will enable Pelican, experts in Artificial Intelligence (AI), Natural Language Processing (NLP) and Machine Learning technologies, to bring its PelicanPayments and PelicanSecure payments and compliance solutions to the financial services industry in Canada. Banking Labs, based in Toronto, is an established and well-respected technology services provider using AI & ML for payments, audit, FATCA, sanctions and AML solutions and services. It will market, sell, help deploy and support Pelican’s solutions in the Canadian market.  

Parth Desai, CEO of Pelican commented: “We are excited about the potential for our payments and compliance solutions in the Canadian market. Forming this strategic partnership with Banking Labs means we can together help banks and corporations manage regulatory changes and achieve payments-related operational efficiencies using AI and NLP, as well as machine learning techniques.” 

Dr Ravi Gedela, CEO of Banking Labs stated: “This is a strategic partnership with Pelican which further strengthens our compliance capabilities to offer sustainable and value-creation solutions to Canadian customers. In our view, Pelican’s use of AI and NLP in compliance products is revoutionary.” 

Corey Gill, Chief Operating Officer at Banking Labs stated: “We see a growing need from banks for technology that can automate and streamline their payments and compliance processing and to significantly improve operational efficiencies. Pelican stood out in comparison to other vendors globally given their focus and proven expertise in this area, along with their existing experience in the Canadian market. We are very enthusiastic about the potential for Pelican’s solutions in Canada and are already engaging with a number of local banks to discuss the benefits of the technology.”  

Related News

Mastercard, PFS and Starling Bank team up to offer a trusted alternative to cash to NHS volunteers

As National Volunteer Week gets underway, Royal Voluntary Service has identified two Mastercard issuers to provide trusted payment cards to NHS Volunteer Responders. These can... Read more »

Brazilians tend to increase spendings on ecommerce after the pandemic, EBANX study shows

A research launched by EBANX, on the impacts of the COVID-19 pandemic on the ecommerce market in Brazil and the post-pandemic perspectives, brings in the results an intention... Read more »

Mastercard: Contactless payments have become the “new normal” across the UK

As Mastercard reveal that 66 per cent of all transactions across the UK are now contactless, new research released today identifies consumer habits and viewpoints that mean... Read more »

South Africa’s Mama Money Expands Global Reach with Western Union

Western Union, a leader in cross-border, cross-currency money movement... Read more »

SatoshiPay Secures $550,000 investment from Stellar Development Foundation

The Stellar Development Foundation ("SDF") has made a strategic investment of $550,000 by way of convertible loan notes. This investment marks the third investment made by SDF... Read more »

Enfuce powers payments in MaaS Global’s revolutionary mobility app

Maas Global, the leading Mobility as a Service provider, has partnered with Enfuce – Finland’s largest fintech startup – to launch a card payment offering in Whim, MaaS Global’... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel