The leading Regulatory and Supervisory AML Technology organisation to open an office in Vilnius

AML Analytics, the UK based Regulatory and Supervisory Technology (Regtech/Suptech) organisation is to open a dedicated IT development office in Vilnius, Lithuania. As part of its ongoing global expansion, the company expects to build a team in Vilnius of around 50 employees in the next few years.

AML Analytics are world leaders in the analysis of automated sanction screening solutions used by financial institutions in the regulated sector to protect themselves from the risks associated with financial crime.

Founded in 2010, AML Analytics is responsible for developing sophisticated approaches to testing and validating regulatory and supervisory financial crime technologies. The company has performed thousands of independent tests on screening systems for leading financial institutions and regulators across the world and are acknowledged as global leaders in this field.

The company has recently developed unique and innovative Regtech solutions to validate and test the transaction monitoring systems used by financial institutions to ensure that their systems are functioning as expected and that they are compliant with financial crime regulations and Red Flag testing protocols.

Justin Holder, CEO of AML Analytics, explains that it was Lithuania’s well-developed IT ecosystem, buoyed by its skilled and ambitious professionals, that sealed AML Analytics’ decision to choose Lithuania as the location of their new IT office.

“Several factors influenced our decision, including the enthusiastic recommendation of Lithuania from our trusted business associates. Most importantly, however, Lithuania was selected because the country offers a wealth of highly trained IT professionals and Vilnius is within easy reach of the UK by air, with direct flights daily from London. The standard of English throughout Lithuania is exceptional, and Lithuanian people are very friendly. These have all been important factors for AML Analytics,” says Justin Holder.

AML Analytics plans to build a team of approximately 50 employees at its office in Vilnius over the next few years. This dedicated team will focus on the development of Transaction Monitoring Validation (TMV) and Red Flag Testing solutions for financial institutions for which a substantial global uptake is expected.

Mantas Katinas, General Manager of Invest Lithuania, sees the arrival of AML Analytics as a further boost to Lithuania’s already thriving Fintech community: “New companies create new job opportunities and, at the same time, expand our country’s potential. We are happy to welcome a new, strong player with ten years of experience in regulatory and supervisory financial crime technology to our growing Fintech community. This new IT development centre will strengthen our local specialists’ expertise in testing and validating sanction screening and transaction monitoring systems.”