MoneyGram has selected AiPrise to support compliance and fraud prevention operations across its global payments network.
Under the agreement, MoneyGram will integrate AiPrise’s AI-based platform into its verification and monitoring processes and consolidate select verification workflows onto a single platform. The implementation draws on AiPrise’s access to more than 100 data sources worldwide, which MoneyGram will use to verify and monitor data across the markets it serves.
According to the announcement, the integration is intended to give MoneyGram’s teams a more consistent way to review information and document verification decisions within the markets covered by the implementation. The scope covers select processes rather than MoneyGram’s full compliance operations. In addition, the companies have not disclosed which markets or workflows are included, or when deployment will take place.
Recording how decisions are reached is a central part of the arrangement. Chaitanya Sarda, CEO of AiPrise, said the platform was built to help companies streamline complex verification processes, adding that it also gives compliance teams the information and audit-ready rationale they need to support their decisions. For a payments operator active in many jurisdictions, that documentation is tied to a stated goal of applying consistent standards across markets.
Bahar Sahajwalla, Chief Regulatory and Public Affairs Officer at MoneyGram, described verification as essential to running a trusted global payments network. The official said AiPrise would give the company’s teams a simpler and more comprehensive way to verify information while keeping standards consistent across markets.
Part of a wider infrastructure overhaul
The agreement forms part of MoneyGram’s broader effort to modernise the infrastructure behind its global network. Luke Tuttle, Chief Product and Technology Officer at MoneyGram, said that the company is working to become a more modern, connected fintech platform. According to him, AiPrise will help modernise key processes and support a more efficient and scalable platform.
The announcement shows MoneyGram directing part of its technology investment towards the operational side of compliance, specifically the consistency and efficiency of verification, as part of its platform modernisation. For AiPrise, the agreement puts its platform inside the compliance operations of a cross-border payments network present in more than 200 countries and territories.
