Hong Kong-based digital financial infrastructure provider PhotonPay is advancing global payment solutions through the integration of AI-driven anti-money laundering (AML) tools.
The initiative enhances the speed of its Know Your Customer (KYC) and onboarding processes, significantly reducing ‘false positives’ by an average of 50%.
PhotonPay leverages AI technology to simplify its AML and counter-terrorism financing (CFT) processes, enhancing its risk management and reducing financial crime risks.
Also, the initiative improves operational efficiency while adhering to compliance and risk standards such as PCI-DSS Level 1 and FATF, among others.
PhotonPay global legal, compliance, AML and risk co-head JP said: “Compliance is the foundation of trust in global payments. At PhotonPay, we ensure that our global payment solutions comply with global regulatory standards.
“We are committed to adhering to international regulatory standards and will continually enhance our compliance and risk control capabilities to enable our clients to operate with confidence globally.”
Established in 2015, PhotonPay provides global accounts, card issuing, online payments, payouts, FX management and embedded finance solutions.
The company’s AI-powered AML and Risk engine benefit its diverse clientele.
It offers high-value transactions for e-commerce firms like Lili Bridals and helps logistics companies like Zongteng reduce 30% chargebacks, building on AI-driven fraud detection.
Also, advertising platforms like Cheetah Mobile benefit from privacy-preserving frameworks that reduce GDPR non-compliance risks by 99%.
With a strong compliance culture and technological capabilities, PhotonPay serves over 200,000 customers worldwide, handling a transaction volume of more than $20bn.
The company integrates compliance into every aspect of its operations, enabling businesses to operate smoothly while mitigating financial and reputational risks.
