Covalent today announced that it has entered into a collaborative arrangement with Benchmatrix to offer AML As A Service to Digital Banks and EMI with the first customer already operationalized.
Benchmatrix as the industry leader in the AML platform space was a natural choice for Covalent to collaborate on offering that same platform on a SAAS model.
“We were looking for a partner to enable a SAAS offering for one of our strategic customers and we luckily got connected to Covalent’s agile and ever-ready operations team, we look forward to many more successful projects together,” said Taimur Kaleem, CEO, BenchMatrix, Pakistan.
“Benchmatrix has established its footprint not only in Pakistan but globally as well. With this joint venture, we look forward to assisting Digital Banks, EMIs, FIs, NBFIs and DFIs in their ongoing efforts towards AML/CFT Compliance through our seamless cloud-ready AML suite,” said Irfan Fazli, Founder and Group CEO, BenchMatrix.
“Covalent has quickly positioned itself as the market leader in the SAAS space ensuring that Covalent has everything required to completely enable a Digital Bank or an EMI off the ground within weeks,” shared Imran Qureshi, CEO Covalent & President Access Group.
“SAAS, PAAS and IAAS-based offerings are used by organizations across the globe who want to move away from the customary on-premise IT services that inherently take time to deliver amongst other challenges,” shared Shahzad Shahid, Director Covalent & CEO TPS.
“Covalent with its tried and tested XAAS services is the ideal choice for any entity looking for a pay-as-you-grow model that is easy on the pocket for any entity desiring to scale quickly,” he added.
