NEWS
KYP and tell . money join forces to enhance Open Banking security
tell . money has announced that KYP – a leading real-time and proactive alerts risk intelligence platform – has been selected as its global data orchestration solution to manage the company ’ s merchant and third-party relationships on an ongoing basis .
KYP and tell . money have also entered into a strategic partnership to deliver Open Banking account providers with robust , real-time continuous risk monitoring of its partners and TPPs .
“ The tell . money gateway is a dedicated interface for banks , FinTechs and other account providers , meeting their obligations under PSD2 with ease and at low cost . There are many suppliers in the market offering ‘ single solutions ’ on adverse media or PEPs / sanctions but no one else currently takes the complete data set and delivers this in an integrated actionable interface ,” said David Monty , Co-founder , tell . money .
“ By combining KYP ’ s Risk Intelligence Platform and tell . money ’ s gateway , we will be able to offer an even greater level of risk monitoring and assurity to our bank and FinTech clients . The KYP
solution is available to all tell . money gateway clients as a standalone bolt-on or value-added managed service .”
Tarabut Gateway partners with Rain to boost MENA crypto payments
payments directly from user bank accounts without the need to leave Rain ’ s platform .
MENA ’ s crypto sector is growing at a rapid pace . According to Chainalysis , the MENA region is the world ’ s fastest-growing cryptocurrency market , with the volume of crypto received in the region jumping 48 % in the year to June 2022 .
Tarabut Gateway , an Open Banking platform in the MENA region , has announced its new partnership with Rain , one of the first regulated crypto assets trading platforms in the region . This partnership will allow Rain customers in Bahrain to quickly and easily top-up their crypto wallets via bank transfer through the Rain application .
The partnership is the company ’ s first collaboration with a crypto asset service provider . It will bring about faster , cost-effective fiatto-crypto transactions to Bahrain end-users and enable funding
The new feature will utilise Tarabut Gateway ’ s Open Banking payment solutions to facilitate on and off-ramp , fiat-crypto-fiat transfers for users , dramatically increasing speed and reducing errors associated with traditional bank wire transfers . The introduction of this new feature is in line with Rain ’ s strategy to provide the most premium and seamless crypto wallet experience for its MENA users .
The partnership with Rain is a cross-sector synergy , made possible by Bahrain ’ s advanced open banking ecosystem . Crypto trading , wallets and other blockchain use cases are natural allies in opening up traditional banking and finance . www . intelligentfin . tech
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