Peach Payments has partnered with the global anti-financial crime platform RelyComply to strengthen its anti-money laundering (AML) and know-your-customer (KYC) compliance capabilities and support its expansion into new African markets.
Peach Payments currently serves South Africa, Kenya, and Mauritius and aims to scale its transaction volumes across Africa, with its recent acquisition of West African company PayDunya as the kickoff.
The partnership with RelyComply enables Peach Payments to automate and streamline processes such as verifying customer identities (KYC) and monitoring transactions to meet AML regulations.
“With a new platform in place to maintain accurate checks and automated AML, including transaction monitoring, we can uphold our existing compliance processes while increasing the quality of our services as we manage higher customer numbers and transaction volumes across multiple jurisdictions,” says Rahul Jain, CEO of Peach Payments.
RelyComply’s solution offers a centralised interface for automated payment screening, risk profiling, and real-time reporting.
“Our single, unified platform provides the foundation for Peach Payments’ broader AML workflows, enhancing their status as enterprise security leaders in the payments space,” says Bradley Elliott, CEO of RelyComply. “Together, we ensure the company’s customers can transact confidently in a fast-moving digital payments landscape.”