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September 23, 2021

PPRO invests in Sentinels to strengthen AML controls

By Shalini mani

UK-based payment infrastructure firm PPRO has made a strategic investment in Netherlands-based transaction monitoring startup Sentinels.

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Financial terms of the transaction were not disclosed.

Sentinels leverages AI and machine learning capabilities to help payment service providers, remittance companies, and challenger banks manage their compliance obligations.

The company’s platform is designed to monitor transactions, develop behavioural profiles and identify any dubious activities and to offer recommended next steps in such scenarios.

As part of its investment in Sentinels, PPRO customers will be offered the full Sentinels platform as a value-added service.

The move would help PPRO to boost its anti-money laundering (AML) controls and keep financial crime risks, and suspicious transactions in check for its customers.

PPRO CEO Simon Black remarked that the Sentinels platform would offer a streamlined workflow for the company’s risk and compliance teams.

Black added: “Being able to detect money laundering and other financial crime risks in real time is incredibly valuable to our customers.

“That’s why we’re delighted to invest in and begin building a strategic relationship with Sentinels, who have proven to be an innovative firm with an extremely powerful product.”

Sentinels founder and CEO Joost Houten said: “We are excited to have PPRO’s support and enormously proud to be a valuable part of their unique local payment’s ecosystem – helping businesses quickly and safely increase their global footprint.

“Unique to our partnership with PPRO is that Sentinels will be able to monitor for suspicious activity across PPRO’s customers, enabling cross-institutional monitoring which is the next exciting frontier in compliance.”

Earlier this month, PPRO integrated two of the most popular payment methods in Indonesia, Jenius Pay and LinkAja, into its platform.

In January, the firm secured $180m in a financing round, taking its valuation to over $1bn.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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