Dubai Insurance and Ajms Group Joint Mutual Collaboration on Regulatory Technology Platform

2024-04-16 07:27:13 Business

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Dubai Insurance(DIN) and RETL, group entity of AJMS Global, today announced the integration of ?DIGI-Comply?, a proprietary Sanction Screening and Risk Assessment tool, with their core insurance software. The AI driven solution automates the Sanction & PEP Screening process, thereby enabling real time compliance management. Through its proprietary methodology, the solution also helps FIs to reduce ?false positives? and implement a robust AML / CFT Risk Assessment process thereby ensuring compliance with in-country regulations.

Mr AbdellatifAbuqurah, CEO of Dubai Insurance, while complementing the team of RETL, mentioned that the system was very cost-effective, user friendly and was therefore quickly accepted by the staff as well. He mentioned that DIN Team had brought to his notice that implementing the additional software has not increased the TAT or impacted their productivity, which was noteworthy. Given the strength of AJMS Group in AML / CFT domain, he was confident that the product would serve DIN well over the period. He expressed his appreciation for the effort put in to provide a user-friendly product as per the requirements of the regulators and the end users.

Commenting on the successful implementation, Mr Abhishek Jajoo, Founder & Group CEO of AJMS Group said that, when he founded RETL, the core objective was to launch a user friendly fully integrated compliance solution which complies with AML Compliance requirements in UAE and supports the Nation?s vision on safeguarding financial system. He was proud of his team to launch a No-Code platform for AML Sanction & Risk Assessment, where the Compliance officer of any organisation can customise their internal methodology into system without the involvement of any IT personnel. As part of this journey, we are happy to be associated with Dubai Insurance, one of the largest Insurance players in the country, which decided to select DIGI-Comply for end-to-end compliance.

About Dubai Insurance
Dubai Insurance Company (DIN) was incorporated by His Highness Late Sheikh Rashid Al Maktoum as the first national company in the UAE. DIN has been amongst the leading insurance companies in the country. It is ranked amongst the Top 7 insurance companies in UAE and has shown steady growth inprofits and premium. DIN offers a varied portfolio of products including Property, Liability, Marine, Group Life and Medical and many other specialty lines. DIC is also closely associated with the government entities to ensure that the community living here or visiting have necessary insurance protection. Please visit https://www.dubins.ae/en/about-us to learn more.

About AJMS Group
AJMS Group is a leading Super-brand which comprises of entities specialized in the area of Consulting (Tax, Risk, Compliance, IFRS advisory and Digital Transformation Advisory), Regtech and Insuretech. Currently, AJMS has direct presence in 6 countries with its headquarters in UAE. Remitex Technologies Ltd (RETL), is a group entity of AJMS Global Consulting, which focuses on providing Regulatory solutions for the Financial Sector. The Company was awarded as the best KYC Regtech platform for 2021 in UAE, by Corporate Vision UK. RETL has developed suite of comprehensive and advanced tool for AML/CFT Sanction Screening, Risk Assessment and related functionalities. For more information, please visit us at https://www.kycdigi.com/

For enquiries, please contact:

Dubai Insurance Company Remitex Technologies Ltd:
Email: info@dubins.ae E-mail:info@kycdigi.com
Tel: +971 4 2693030 Tel: +971 4 2556613