Wynyard Group (NZX:WYN), the global leader in advanced crime analytics software, has won a multi-year contract with Manayer Marketing Management LLC, UAE licensee to financial services provider, TransCash Corporation, for its Wynyard Anti-Money Laundering (AML) solution.
Manayer Marketing Management has the license to market and distribute TransCash MasterCard Prepaid Money Sharing Cards, a unique financial product that facilitates money sharing from card to card. In the UAE, TransCash MasterCard® Prepaid Money Sharing Cards are issued by Finance House PJSC and processed by Network International under a license by MasterCard International Incorporated.
Around 80% of UAE workers are immigrants, many of which cannot open local bank accounts, and make use of services such as TransCash’s recently launched dual card which allows customers to send money home, shop online and make purchases at retail outlets without the need to have a bank account.
The company will use Wynyard’s AML solution to comply with increasingly tougher compliance and regulatory requirements including changes recently introduced by the chief local regulator, the Central Bank of the UAE.
Detailed press release link: click here