Joyalukkas Exchange has partnered with Effiya Technologies to enhance the efficacy of Sanctions screening process by adopting artificial intelligence-aided technology

Dubai, United Arab Emirates — Joyalukkas Exchange one of the leading money exchanges houses in the Gulf has partnered with Effiya Technologies an Artificial Intelligence (AI) and Machine Learning (ML) solutions provider on AML/CFT compliance for greater efficiency and effectiveness in real-time screening transactions. They have a hybrid ensemble approach with seamless integration and better algorithms backed with machine learning models to generate the most accurate hits. The implementation of this technology has helped reducing the false positives to a greater extent without compromising potential matches by generate real-time alerts and hence empowering the overall compliance performance.

Antony Jos – Managing Director, Joyalukkas Exchange quoting on this partnership said, “At Joyalukkas Exchange, adherence to compliance is non-negotiable and we don’t like it be compromised at any level. We are diligent on this, to ensure a safe and secure experience for all our customers in line with Regulations and global AML standards. For us building the culture of effective compliance will always remain a critical factor. Our aim with this collaboration is to help and strengthen our responsibility and commitment as a regulated entity licensed by Central Bank of the UAE to manage safe and secure transactions for our customers.