Our mission is to improve financial inclusion by adhering to level one principles, specifically by reducing the cost and improving the functionality of fraud and anti-money laundering solutions. Our aim is to support financial service providers, fintechs, traditional banks, switch operators, government and nongovernment entities with world-class solutions.
Fraud is expensive to its victims and equally expensive to every participant in the financial system. The cost of fraud, and very expensive, counter fraud systems is passed on to everyone. This is most impactful for those who can ill afford it.
Money Laundering and Terror Financing are impactful and expensive for just a few of the following reasons:
This cost needs to be taken out of the system and the effectiveness needs to improve in the areas of anti-fraud, AML/CTF programs. These solutions need to be available to more organizations.
In April of 2022 we completed our MVP and the first leg of our journey.
FRMS Center of Excellence
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