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Currencies Direct chooses Ingenuous as its partner in financial crime prevention


Currencies Direct chooses Ingenuous as its partner in financial crime prevention


The international payments provider frequently rated number one globally, Currencies Direct [‘CD’], has chosen Intuition by Ingenuous as its AML transaction monitoring platform. The solution will enhance CD’s capability to detect and prevent onboarding and transactional fraud risk. Intuition is providing the group with a central platform to fight Financial Crime.

Currencies Direct, London, UK and Melbourne, Australia
Headquartered in London, trading in more than 40 currencies since 1996, Currencies Direct is one of the first global international payment providers. Currencies Direct has a market-leading digital offering and presence in 9 countries. Currencies Direct is a trusted partner of FTSE100 financial firms with more than 100,000 clients.

CD offers zero fees, global reach, excellent exchange rates and an award-winning localized customer services team. CD has an industry leading Trustpilot rating of 4.9 with 85% excellent reviews. New payment products and partnerships, expanding jurisdictions, a growing customer base and enhancing its financial crime capabilities underpin CD’s global ambitions. For that it chose Ingenuous. Ingenuous is a Melbourne-based decision support company delivering the latest and most advanced technology in fraud prevention and compliance.

Why Currencies Direct chose Intuition by Ingenuous

Ibrahim Nazirudeen, Currencies Direct’s Head of Product for Risk and Compliance commented that; “Managing compliance risk is a key strategic priority for our business. Intuition will be a vital addition to our compliance technology stack. Ingenuous helps CD to protect our customers and economies against Financial Crime. This will ensure we continuously meet our obligations to clients, partners and regulators as we continue on our growth trajectory. The highly configurable platform will transform Fincrime detection, monitoring and mitigation into a more tailored approach. We are keeping in line with evolving customer risk and regulatory priorities. The fully embedded platform will aid rapid scaling in new jurisdictions and products. Above all, enabling timely response to changing risk vectors, capacitate changes in risk appetite and delivering faster payments securely and seamlessly.”

The platform utilizes a hybrid rules engine (with a no-code rules editor) and AI solution for activity alerting. Intuition offers a highly customizable case or alert management functionality. Intuition offers customizable risk weighted score card for risk segmentation and Reporting / Dashboard features among its many other features.

Vesa Manninen, Head of Product and Strategy at Ingenuous: “We are extremely pleased to have been chosen by Currencies Direct in the continual quest to tackle financial crimes. Fraud scams and criminal financial activity are becoming increasingly prevalent. Navigation of global and jurisdictional compliance requirements are becoming more complex. We are confident Intuition will provide Currencies Direct with a flexible tool to manage the frequently changing financial crimes landscape.”