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SME Bank has selected Flagright, an AI-native, no-code platform for transaction monitoring and anti-money laundering (AML) compliance, to enhance its financial crime prevention framework.
Following a comprehensive evaluation of the platform, SME Bank has deployed Flagright to centralise real-time transaction monitoring, watchlist screening and investigations. The move is aimed at strengthening the bank’s AML controls while maintaining speed, scalability and operational efficiency.
Headquartered in Vilnius, SME Bank is a digital bank focused on business customers. It operates under a specialised banking licence issued by the European Central Bank and provides SMEs with digital day-to-day banking services and lending solutions, as it continues to expand across the region.
Commenting on the partnership, Vaidotas Cucėnas, Chief Operating Officer at SME Bank, said trust and speed, underpinned by strong controls, are critical in choosing technology partners. He noted that the deployment of Flagright will help the bank remain aligned with regulatory expectations while offering clients a secure environment to grow their businesses.
With Flagright’s platform, SME Bank will be able to monitor transactions in real time using configurable, risk-based rules, screen customers and counterparties against relevant watchlists, and manage investigations end-to-end within a single, audit-ready workspace. The system also supports granular roles and permissions, including maker-checker controls, to ensure consistent decision-making as the organisation scales.
Tomas Smalakys, Chief Information Officer at SME Bank, said the bank required a solution that could adapt quickly to a fast-changing business environment. He explained that Flagright’s flexibility would allow SME Bank to evolve its operating model in line with the growing needs of its clients.
Baran Özkan, Co-founder and CEO of Flagright, said the partnership reflects SME Bank’s focus on delivering a modern, digital-first banking experience for SMEs. He added that Flagright is pleased to support the bank with real-time monitoring, watchlist screening and unified investigations that enable sustainable growth while meeting regulatory requirements
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