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Flagright, MUWE enhance digital payment security in LATAM

January 16, 2024 By Editor

AI-powered AML compliance solutions provider Flagright has announced its collaboration with MUWE, aiming to improve digital payment security in LATAM.

Through this alliance, the two companies focus on offering intelligent and secure payment solutions in the LATAM financial sector. As a payment integration company, MUWE intends to accelerate the rotation in the financial area by providing a range of payment solutions, including wire transfers, credit and debit card payments, and cash payment options at over 30,000 payment points. Flagright enables financial institutions to combat financial crimes and ensure secure transactions. The company’s suite of services includes real-time transaction monitoring, case management, sanctions screening, and customer risk assessment, among others. The collaboration with Flagright aligns with MUWE’s commitment to offering a secure and fast payment gateway.

Flagright – MUWE collaboration objectives and capabilities

According to MUWE’s officials, the decision to work with Flagright intends to help the company in enhancing its payment security. Considering that MUWE is currently focusing on clients who have a digital ecommerce presence, its value proposition involves tailored customer service, improved price, and reduced risks of chargebacks and fraud attempts by leveraging Flagright’s Anti-Money Laundering (AML) compliance and fraud prevention technology.

Flagright’s artificial intelligence (AI) technology and user-friendly, no-code interface aim to allow MUWE to integrate compliance measures conveniently while ensuring secure and compliant transactions across the latter’s diverse payment platforms. The collaboration solidifies both companies’ commitment to enhancing the payment experience for customers, as well as maintaining an increased level of security. Representatives from Flagright expressed their enthusiasm over the partnership with MUWE which is set to improve payment security in the LATAM market. The company intends to support MUWE’s payment solutions with its security measures while expanding its footprint in the region.

Flagright’s recent developments and partnerships

In addition to incorporating MUWE as its customer, Flagright recently entered several collaborations to advance its development strategy, including one with Hello Clever  in November 2023. By joining forces, Flagright aimed to enhance the security framework for Hellow Clever’s real-time payment platform by integrating various features, including fraud detection, transaction monitoring, and sanctions screening. The move focused on allowing Hello Clever’s merchant partners to prevent fraud by detecting suspicious activity in real time.

During the same period, Flagright partnered  with Sciopay to optimise the latter’s security measures for cross-border payments and foreign exchange management. The company was set to provide Sciopay with its AI-powered AML compliance services to improve its overall suite of cross-border payments and its foreign exchange management tools. The collaboration with Flagright aimed to enable Sciopay to further solidify its commitment to deliver secure and efficient tools, while also meeting the needs and demands of its users and clients.

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