Puerto Rico, Nov 13 2024 – Velocity, a leading provider of financial crime compliance solutions, is proud to announce a strategic partnership with Areti Bank, a prominent global financial institution, to enhance its BSA/AML regulatory compliance through advanced technology.

The collaboration signifies a bold move in the fight against financial crime as Areti Bank goes live with Velocity’s FinCrime Solution Suite, an innovative platform designed to streamline compliance efforts and reduce financial crime risks. This partnership aims to set new standards for excellence in the regulatory compliance space.

The origins of this collaboration trace back to the PRIBA conference last year in Puerto Rico, where discussions between Tom Pirro, Global Head of Sales at Velocity’s FinCrime Suite, and Jose Gomez, CCO of Areti Bank, highlighted the need for a comprehensive solution to strengthen Areti Bank’s compliance capabilities.

“We are thrilled to partner with Areti Bank, a forward-thinking institution committed to enhancing its compliance framework with Velocity’s technology. This collaboration is a significant step toward transforming how financial institutions address the complexities of financial crime prevention.”

Gustavo E Nuñez Leyba, Financial Crimes & Sanctions Officer, CAMS, CCI, commented:

“Since launching with Velocity’s FinCrime Suite, we’ve been able to automate our BSA/AML reporting and transaction monitoring functions, which is imperative to grow and scale in a secure manner in a volatile financial industry.”

Key Benefits of the Partnership:

• Real-Time AML & Fraud Monitoring: Enhanced detection and prevention of financial crimes.
• Streamlined Compliance Operations: Significant cost reductions through optimized processes.
• Adaptable & Future-Proof Solutions: Scalable technology designed to meet evolving regulatory requirements.
• Tailored Tools for Unique Needs: Customizable features that align with Areti Bank’s specific compliance objectives.

With this new partnership, both Velocity and Areti Bank are confident in their ability to deliver tangible value, foster compliance excellence and reduce financial crime risk.

About Velocity

Velocity is a global leader in financial crime compliance solutions, providing financial institutions with cloud-based, low-code AML and fraud prevention tools. The Velocity FinCrime Solution Suite leverages AI, machine learning, and big data to ensure compliance with AML, BSA, and FATCA regulations while optimizing operational efficiency and reducing risk. Velocity supports institutions worldwide in staying ahead of financial crime threats.

Velocity Contact:
Tom Pirro
Global Head of Sales
Phone: 678-951-6346
Email: thomas.p@velocityfss.com

About Areti Bank

Areti Bank is a 100% digital international bank that focuses on creating a more sustainable world through sustainable banking. It encourages sustainable banking through a conscious use of money, providing financial products and services that positively contribute to sustainable development.

The bank provides a fully-digital and 100% paperless bank account, with the easiest account opening process. Areti bank is for people who care about the role their money plays in the world. They offer a new type of bank with a focus on partnering with people who can help create a more sustainable future.