Pelican
, a Canada based payments and financial crime compliance solutions provider revealed in its latest announcement that it has partnered with another Canada based firm Banking Labs to bring AI based compliance solutions for banks and other major financial service providers located in Canada. This strategic partnership between two parties will see banking labs the consulting service provider market, sell, support and help deploy Pelican’s product services and solutions in Canadian market. Banking Labs is well known in the market for its unique approach where it combines strategic consulting with strong decision science and digital currency expertise to help clients from across the globe create a difference in the competitive market place and provide customers with a better customer experience across channels, products and engagement points. Its area of specialties includes – AI & ML for payments, audit, FATCA, sanctions and AML solutions and services.
Pelican on the other hand is an expert in Artificial Intelligence (AI), Natural Language Processing (NLP) and Machine Learning technologies. Its two most popular product services are Pelican Payments and Pelican Secure payments and compliance solutions. Pelican primarily deals with banks and corporates and helps its clients enhance, streamline and secure their payments life-cycle. Having been active for more than twenty years in its field, Pelican is an expert in the practical application of Artificial Intelligence technology to payments and financial crime compliance and is constantly engaged with its customers to deliver some of most innovative and agile solutions in market while also focusing on driving their growth. As per information in its official LinkedIn account, the firm has facilitated its clients in achieving outstanding efficiency benefits and increased speed to market for customers in more than 55 countries and has processed more than one billion transactions worth over US$5 trillion.
Speaking about this partnership, Parth Desai – CEO of Pelican said, “We are excited about the potential for our payments and compliance solutions in the Canadian market. Forming this strategic partnership with Banking Labs means we can together help banks and corporations manage regulatory changes and achieve payments-related operational efficiencies using AI and NLP, as well as machine learning techniques”.
Speaking on same note, Dr. Ravi Gedela – CEO of Banking Lab said, “This is a strategic partnership with Pelican which further strengthens our compliance capabilities to offer sustainable and value-creation solutions to Canadian customers. In our view, Pelican’s use of AI and NLP in compliance products is revolutionary”.
Corey Gill, Chief Operating Officer at Banking Labs added, “We see a growing need from banks for technology that can automate and streamline their payments and compliance processing and to significantly improve operational efficiencies. Pelican stood out in comparison to other vendors globally given their focus and proven expertise in this area, along with their existing experience in the Canadian market. We are very enthusiastic about the potential for Pelican’s solutions in Canada and are already engaging with a number of local banks to discuss the benefits of the technology”.
