Fast Deployment of Beam’s AML Compliance Solution Helps Wise Launch its Banking Platform
Beam Solutions announced today that Wise, a fintech that provides digital banking with integrated payments to modern small businesses, has successfully deployed Beam as its anti-money laundering compliance solution.
“We needed to satisfy the AML compliance requirements of our sponsor bank before we went live,” said Wise CEO Arjun Thyagarajan. “We were impressed by Beam’s experience and expertise in compliance, and their cloud-based, unified AML platform was exactly what we needed and cost less than other vendors.”
“Like so many fintechs, Wise had to find an AML solution fast,” said Beam CEO and co-founder Ben Duranske, who previously led payments compliance at Facebook. “Wise was able to get up and running in weeks and could launch their product without delay. We are very happy to be part of the Wise ecosystem as they transform banking for small businesses.”