Launching new generation of scalable AML decision engine

by | 14 Jun 2021 | Article, Press release

Stockholm-based Invoier, the fintech company that established Sweden's first marketplace for invoices, is now launching a new generation of technical system support for anti-money laundering (AML). This means even more secure and safe transactions for both investors and customers.

For all financial marketplaces, security is one of the most crucial factors for success. A secure and transparent marketplace is a guarantee for greater capital investments and thereby also that more small and medium-sized enterprises can benefit from the service. Against this background, Invoier has had as its starting point to design its marketplace based on modern and intelligent, proprietary technology.
”

Our new AML decision engine, Invoier Sheriff, radically automates legacy methods more efficiently by gathering data such as risk assessment information, alerts for anomalous behaviour, and analysis of human behavioural data. The high degree of automation enables us to squeeze margins while simultaneously ensuring that the marketplace becomes even safer for our buyers to trade on, says Daniel Nassab, CTO at Invoier.

At the same time, anti-money laundering (AML) is a growing problem that continuously places new demands on operators in the sector. Just like the banks, the factoring industry has also had its fair share of attempted money laundering. In Sweden, money laundering is estimated to have a total annual turnover of approximately SEK 130 billion, and in 2019, nearly 7,000 offences against the Anti-Money Laundering Act were reported. This places high demands on financial operators to always stay one step ahead and develop new technology that combats and anticipates
the attempted frauds.

”

We understand the need for a fast-moving market and have therefore invested in automation that will best benefit small and medium-sized enterprises' opportunities for growth. Since we are also about to launch our marketplace in Europe shortly, it was critical for us to also develop technology that was scalable for many countries right from the start, says Fredrik Mistander, CEO and Co-founder of Invoier.
Invoier aims to help companies across Europe access capital through invoice financing on market terms, with the purpose of enabling growth for small and medium-sized enterprises. Last year, the company was selected from among 4,000 businesses as one of a total of eight Swedish companies for the EU's Horizon 2020 innovation programme.

About Invoier:

Invoier provides solutions for company financing and has developed Sweden’s only marketplace for invoices. The purpose is to enable market-based pricing for financing and growth of small- and medium sized businesses, as well as a new type of investors get access to this market. The technical base of the offer consists of a unique AI engine that will anticipate both if and when an invoice will be paid. Invoier was founded in 2020 in Stockholm and is financed by the EU and KTH and operates with permission of the Swedish Financial Supervisory Authority and the Swedish Authority for Privacy Protection. Read more about Invoier

For further information

Fredrik Mistander

Fredrik Mistander

CO-FOUNDER - CEO