Mano.bank, the Lithuanian challenger bank disrupting the legacy banking industry, has chosen Sentinels, the transaction monitoring and AML software solution.
Amsterdam/Groningen, 4 March 2021- Mano.bank (‘mano’ in Lithuanian means ‘mine’) is truly a digital bank, delivering easy access to financial products for both individual customers and businesses. Licensed in 2018 by the European Central Bank, Mano.bank addresses issues of financial inclusion with their core mission to leverage the emerging technologies to simplify banking for all.
“We’re young and we’re growing, so we have a great understanding of the needs of a growing business. Unlike most other challenger banks, we offer a full spectrum of banking services, from cross-border payments and currency conversion, to loans and deposits for both private and business customers. Financial inclusion, ease of use, transparency, and top-notch cybersecurity - that’s how we see today’s banking." - Povilas Sadaunykas, CEO.
Integrating Sentinels into their existing infrastructure is a strategic move for Mano.bank. With Mano.bank’s wide product suite the challenger needed an AML partner that would not only be future proof, but also flexible enough to support their specific offerings. Sentinels' detection engine, powered by machine learning and editable rules, was the perfect solution for the digital-first financial institution.
"Sentinels has been expanding its offering and capabilities beyond PSPs, and Mano.bank is Sentinel's first challenger bank. We’ve been watching Mano.bank’s incredible progress the past few years, as they are one of the innovative companies responsible for Lithuania’s incredible fintech boom. We are thrilled to welcome them as a new client. It is our goal to build a transaction monitoring solution that would be modular and flexible enough to meet the needs of a broad range of fintechs and realize a step change versus existing compliance processes." - Joost van Houten, Cofounder & CEO, Sentinels.
About Mano.bank Before becoming a bank, Mano.bank was the biggest and most successful credit union in Lithuania. Mano.bank’s digital banking story has begun in 2019 after receiving European banking license. Combining our vision to serve financially underserved with digital technology, we are determined to make it happen for everyone everywhere 24/7.
Sentinels (Slimmer AI) is an intelligent transaction monitoring solution dedicated to data-driven compliance for the financial industry. With a team of more than 20 in-house engineers, Sentinels’ pragmatic-AI approach has a proven track record in improving compliance outcomes. Its secure cloud-based offering ensures a high level of customer trust and meets constantly changing regulatory requirements. For more information visit:https://www.sentinels.ai