Reducing False Positives 7x: How Nexpay Strengthened Compliance with AMLYZE

Nexpay


Reducing False Positives Sevenfold: How Nexpay Strengthened Compliance with AMLYZE

Learn how Nexpay enhanced compliance efficiency and precision, reducing false positives in sanctions screening by approximately seven times.

Industry: Fintech (EMI)

Use Case Type: Enterprise-wide AML/CFT compliance platform

Modules used: Transaction Monitoring, AML Investigations, Customer Screening, Payment Screening

Modules planned to use: Customer Risk Assessment

Founded in 2017, Nexpay is a leading European Electronic Money Institution (EMI) providing payment and account solutions for digital businesses, including crypto platforms, online marketplaces, and financial service providers. Regulated by the Bank of Lithuania, Nexpay enables its clients to move money across borders securely and efficiently through SEPA and SWIFT networks. The company’s mission is to simplify complex financial operations while maintaining the highest standards of compliance and security. Nexpay serves 600+ business clients, has processed over €9 billion in transactions, and operates across 23 currencies.

Challenge

Operating in the fast-evolving fintech landscape, Nexpay faces a range of financial crime risks that demand constant vigilance.

Like any other financial institution, we face ongoing challenges related to sanctions, money laundering, terrorist financing, and fraud. In recent times, sanction evasion has become an even more critical risk area. It’s an ongoing cat-and-mouse game between financial institutions and bad actors, where vigilance, agility, and effective tools are essential.
– Ingvaras Strumyla, Head of AML Operations at Nexpay

Ingvaras Strumyla
Ingvaras Strumyla, Head of AML Operations at Nexpay

The company’s previous AML system generated a high number of false positives, slowing down investigations and consuming valuable compliance resources. Its rigid rule logic limited flexibility, making it difficult to fine-tune alerts and adapt to evolving typologies.

Why AMLYZE?

Nexpay was looking for a trusted technology partner that could provide both regulatory robustness and operational efficiency.

We needed a solution that was efficient, reliable, and adaptable – a partner we could truly trust with our transaction monitoring. We started by implementing AMLYZE for transaction monitoring, later expanded to sanctions and PEP screening, and are now preparing to launch the automated risk scoring module using AMLYZE’s capabilities.

The choice of AMLYZE was driven not only by technology but also by trust in the team’s deep regulatory expertise and collaborative approach.

We chose AMLYZE because we knew who they were and how they operated – a team with deep expertise, a proactive approach, and strong integrity. Their understanding of regulatory expectations and practical challenges made them stand out as a partner rather than just a vendor.

Implementation

Nexpay implemented four AMLYZE modules:

  • Transaction Monitoring
  • AML Investigations
  • Customer Screening
  • Payment Screening

The rollout was smooth and closely supported by the AMLYZE team, ensuring quick adaptation to Nexpay’s internal workflows and compliance requirements.

The platform is intuitive, user-friendly, and designed with compliance professionals in mind. What we appreciate most is how responsive and engaged the AMLYZE team is – they handle our requests promptly and often proactively reach out with suggestions or improvements.

Results

Since implementing AMLYZE, Nexpay has achieved measurable improvements in efficiency, accuracy, and risk focus.

Key results:

  • ~7x reduction in false positives in sanctions screening
  • Significantly improved operational efficiency and reduced investigation time
  • Enhanced focus on real risk cases instead of noise
  • Greater agility in adapting to new compliance requirements

Since switching to AMLYZE, we’ve managed to reduce false positives in sanctions screening by approximately seven times. This has significantly improved our operational efficiency and allowed our compliance team to focus on real risks rather than noise.

Experience

For Nexpay, AMLYZE represents a reliable long-term partner that evolves alongside their compliance strategy.

It’s a pleasure working with a partner that demonstrates such reliability and professionalism.

In One Sentence

Your go-to solution for fighting financial crime – efficient, comprehensive, and backed by a team that truly understands compliance.”
– Ingvaras Strumyla, Head of AML Operations at Nexpay

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