Griffin partners Cable to strengthen BaaS financial crime controls
London-based Banking-as-a-Service (BaaS) provider and newly licenced bank Griffin has teamed up with fintech firm Cable as it looks to strengthen its financial crime control framework.
Griffin partners Cable to automate compliance processes
Griffin will utilise Cable’s tech to build automated assurance into its BaaS platform, enabling the company to carry out continuous customer checks to better assess risk profiles, ensure regulatory compliance and onboard new BaaS customers safely.
Cable says the combination of the two firms’ technology will help Griffin “monitor, identify, and address financial crime control risks”.
The company provides an all-in-one platform designed to help banks comply with their financial crime requirements and automate assurance processes. It offers a dashboard for firms to view and manage their fincrime programmes and a suite of tools to carry out tech-enabled risk assessments, quality assurance, and reporting.
As well as Griffin, it has also secured partnerships with Axiom Bank and Quaint Oak Bank in the US.
Griffin CEO David Jarvis says that through the partnership, “we can better manage our customers and automate lengthy compliance processes, freeing up valuable time and resources for our customers to focus on product development”.
Earlier this month, Griffin secured an authorised with restrictions (AwR) banking licence from the Prudential Regulation Authority (PRA) and is now officially in mobilisation.
FinTech Futures caught up with Griffin’s chief commercial officer Adam Moulson last year to learn more about the company and its plans.
