Finastra, a global provider of financial software applications and marketplaces, today announced the launch of its new payment solution, Finastra Compliance as a Service on Microsoft Azure.

In brief:

-It aims to help banks combat financial crime for instant payments

-The service includes Fincom's real-time AML (Anti-Money Laundering) transaction screening and ThetaRay’s AI-powered transaction monitoring as a pre-integrated packaged solution with Finastra Payments To Go.

-The service will soon be integrated with Finastra Global PAYplus.

What does this mean?

“By delivering relevant value-added payment risk solutions as a service, we will help banks to improve speed-to-market and ensure our customers stand to benefit from the ongoing evolution in enabling capabilities like AI and Machine Learning,” said Radha Suvarna, Head of BaaS and Value-Added Payment Solutions at Finastra.