IT Brief New Zealand - Technology news for CIOs & IT decision-makers
Story image
Momentum builds as Wynyard claims another UAE win
Mon, 2nd Dec 2013
FYI, this story is more than a year old

Wynyard Group has won a multi-year contract with Manayer Marketing Management LLC, UAE licensee to financial services provider, TransCash Corporation, for its Wynyard Anti-Money Laundering (AML) solution.

Terms of the deal will see the company use Wynyard’s AML solution to comply with increasingly tougher compliance and regulatory requirements including changes recently introduced by the chief local regulator, the Central Bank of the UAE.

Manayer Marketing Management has the license to market and distribute TransCash MasterCard Prepaid Money Sharing Cards, facilitating money sharing from card to card.

Wynyard MD, Craig Richardson claims the company continues to see momentum in the Middle East and welcomes TransCash as its latest financial services provider customer in the region.

“We are delighted TransCash and Manayer Marketing Management have selected Wynyard Group AML software to help provide assurance of AML compliance to regulators and other stakeholders," Richardson says.

“Wynyard Group is committed to helping businesses involved in financial activities fight money laundering, counter the funding of terrorism, and comply with changing regulation.

“We have focused on delivering powerful solutions that help clients meet their compliance obligations and look forward to working with Manayer Marketing Management LLC.”

Wynyard anti-money laundering allows clients to create and refine Anti-Money Laundering and Counter-Terrorism Financing rules, monitoring transactions and reporting suspicious activity.

Wynyard AML clients also have access to world leading best practice guides, templates, country risk profiles, financial crime guidelines and industry briefings through the Wynyard Knowledge online library.

Manayer Marketing Management UAE Head of Operations Eric Sridarane, said compliance with local and international regulation is a top priority for the company and the Wynyard solution will deliver an immediate return on investment as well as long-term benefits.

“Our business continues to expand and it was important that we partnered with a leading AML provider with local support that can also support us as we continue to grow," Sridarane says.

“Wynyard will deliver us a robust and comprehensive AML service for detecting, investigating and reporting suspicious activities meeting our needs now and in the future.”

The contract was awarded following an extensive and competitive procurement process, which included the evaluation of different solutions.