MedGulf and AJMS Group Leverage Regulatory Technology Platform for AML/CFT Compliance

Mediterranean and Gulf Insurance and Reinsurance Company (MEDGULF), United Arab Emirates and Remitex Technologies Ltd (RETL), an entity of AJMS Global Group, announced the integration of “DIGI-Comply”, a proprietary penalty screening and risk assessment tool, with their core assurance platform. The AI-powered solution automates the sanction and PEP monitoring process, enabling real-time compliance management. The system helps companies reduce ‘false positives’ and implement a thorough AML/CFT risk assessment process, ensuring compliance with national regulations, through its patented approach.

While congratulating the RETL team, Mr. Shadi Al Mahameed, Managing Director of MEDGULF, said that the system is cost-effective and user-friendly. He added that the MEDGULF team aims for a seamless experience and increased productivity, thanks to the reduction of the TAT. He was sure that the product will serve MEDGULF well, considering the strength of the AJMS group in the field of AML/CFT. He expressed his thanks for creating a user-friendly solution that meets all the requirements of regulators and end users.

Abhishek Jajoo, Founder and CEO of AJMS Group, thanked MEDGULF for the trust in “Digi-Comply” tool and said, “We are delighted to be part of this journey with MEDGULF, one of the leading national health insurance. ”.

He also mentioned the fundamental principles behind the founding of RETL, namely to launch an AI/ML-based compliance solution that responds to the UAE’s regulatory AML compliance regime and supports the nation’s vision on promoting a strong AML compliance governance. He pointed out that our flagship product “Digi-Comply” is a No-Code/Low-Code platform that allows compliance officers to customize their internal approach in the system without involving IT professionals.