MEDGULF, Mediterranean and Gulf Insurance and Reinsurance Company, and AJMS Global announce the integration of a digital regulatory platform ‘DIGI-Comply’ which is a proprietary Sanction Screening and Risk Assessment tool.
The AI-powered solution automates the Sanction & PEP Screening process, allowing for real-time compliance management. The system assists companies in reducing ‘false positives’ and implementing a thorough AML / CFT risk assessment process, assuring compliance with in-country regulations, thanks to its patented approach.
While complimenting the RETL team, Mr. Shadi Al Mahameed, General Manager of MEDGULF, stated that the system is cost-effective and user-friendly. He added that the MEDGULF team is looking towards seamless experience and increased productivity, through a reduction in TAT. He was sure that the product will serve MEDGULF well, given the strength of AJMS Group in the AML/CFT area. He expressed his thanks for the creation of a user-friendly solution that meets all the requirements of regulators and end-users.
Abhishek Jajoo, Founder & Group CEO of AJMS Group, thanked MEDGULF for the trust shown in the “Digi-Comply” tool and mentioned that “We are excited to be a part of this journey with MEDGULF, one of the country’s leading health insurance companies”.
He further stated that the main principles of establishing RETL is to launch an AI/ML-driven compliance solution that caters to UAE regulatory AML Compliance regime and supports the nation’s vision on promoting strong AML Compliance governance.
He also elaborated that the product is a No-Code/Low-Code platform that allows compliance officers to customize their apporach into the system wiithout the help of IT professionals.
