First AML, the global scaleup which streamlines the entire anti-money laundering (AML) onboarding and compliance process, has today joined the NayaOne Tech Marketplace. First AML’s leading AML platform, Source, is an all-in-one self-service for local and global KYC, designed to suit all AML teams and built for every step of the AML process.

Additionally, Source by First AML combines data sources, risk assessment, onboarding, case management, verifications, entity structure builds, PEPs and sanctions, workflow management and more in one easy-to-use place. It’s now set to become even more accessible due to NayaOne’s Sandbox-as-a-Service, which will make it available to a range of financial institutions. NayaOne provides access to synthetic datasets, tech marketplace and a digital sandbox to discover, allowing firms to evaluate and scale third party technologies to production to build proofs of concepts in 4-6 weeks.

Source by First AML is designed to empower  financial institutions to save valuable time, reduce costs, and eliminate frustrations associated with AML/KYC compliance. Whether it’s simple EIV checks or tackling the most challenging and high-risk compliance areas, the platform equips organisations with the tools and capabilities to handle it all seamlessly from one platform.

It makes business sense, too; thanks to Source’s smoother onboarding procedure, it means there is a quicker time to revenue. It is designed for organisations to scale without excess, with more convenient onboarding processes that lower customer drop-off numbers and allow firms to use compliance as a competitive edge. With Source, there is less risk to a business in both monetary and reputational terms.


From legacy systems to leading innovation 

Stride.VC,  a London-based early-stage tech investor, struggled with painful, manual AML processes. A slick customer experience is expected, although not always delivered due to archaic processes, and First AML offered the opportunity for more effective work in that area. In 2021, Stride.VC implemented First AML to streamline workflows and screening checks to onboard limited partners and investments. Understandably, the team were nervous to move on from their tried and tested methods but found the change a lot simpler than expected.  Seeking a simplified approach to AML tasks, partner Ross Waide says First AML has been “one of the best improvements we have made. The platform and processes work really well, it’s intuitive and easy to use.”

Bion Behdin, Co-Founder, First AML: “Regtech, and AML tech in particular, is a high trust purchase for financial institutions with critical infrastructure and sensitive data, and it often requires a lot of faith to change archaic systems. That’s why First AML is excited to partner with NayaOne – to provide people a secure environment to test the First AML product and build confidence in our solution before purchase. This partnership demonstrates both firms’ commitment to empowering financial institutions globally with robust, compliant technology and support bank-fintech partnerships to drive innovation in the industry.”

Oli Platt, Product and Marketplace Manager, NayaOne: First AML has joined the NayaOne marketplace to support financial institutions. This all-in-one platform simplifies KYC, risk assessment, onboarding, and more, making it an essential asset for AML teams worldwide and support KYC and KYB use cases. First AML solutions now can be discovered and tested via NayaOne’s Sandbox-as-a-Service.”