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As a leading global payouts provider, Transpay’s priority is to provide our business clients with products that have strong compliance controls to protect them from fraud and manage risk.

Some payouts providers see compliance as another function to outsource. Transpay takes the opposite approach: We invest in compliance because we know that it not only provides our clients with safety and security, but is a competitive advantage for their own businesses too.

That’s why we have invested in a best-in-class, in-house compliance program that is on par with the compliance programs operated by big banks. Our compliance team members come from the world’s biggest banks, from Citibank in the U.S. to Barclays in the U.K. The compliance team comprises 12 percent of Transpay owner and operator Transfast’s total workforce, a significant percentage that is on par with the percentage of employees working in compliance at big banks.

One of the important roles of our compliance team is to have regular face-to-face meetings with the bank partners who are part of our global proprietary network in order to understand their concerns and needs from a compliance perspective. By meeting regularly and keeping open lines of communication, our compliance team ensures that we have the right controls and frameworks in place. Often, this requires us to go above and beyond what is strictly mandated by a regulatory perspective. That adherence to the highest levels of compliance practices is additional peace of mind for our clients and brings increased safety and soundness to both Transpay and to our clients.

A second role that our compliance team plays – and one that would be unheard of in many payments companies is to partner with our sales team and integration team to create a seamless payouts process for our clients. By taking time to ask our valued Transpay clients about their business goals and plans and learning about the new clients who we are bringing on board, we are able to design our compliance program to address risks particular to our products and to the countries where our clients need to send funds. For example, when a Transpay client wants to expand into a new corridor, we can ensure that we have the payout capabilities, the knowledge and the robust network that’s required, along with all of the necessary compliance controls. Thanks to our robust compliance team, our clients can trust that Transpay is managing their information and processing their payments in the right manner.

 

Learn more about how Transpay takes the compliance burden off your shoulders.

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