MedGulf and AJMS Group leverage regulatory technology platform for AML/CFT compliance

The Mediterranean and Gulf Insurance and Reinsurance Company (MEDGULF), UAE and Remitex Technologies Ltd (RETL), a group entity of AJMS Global, announced the integration of "DIGI-Comply", a proprietary Sanction Screening and Risk Assessment tool, with their core insurance platform. 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 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 also mentioned the core principles of founding RETL, i.e. 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 emphasised that our flagship product “Digi-Comply” is a No-Code/Low-Code platform which allows compliance officers to customize their internal approach into the system without involving IT professionals.