Path Solutions, a proven leader in the provision of Islamic and Investment software solutions to banks and financial institutions, and Haydrian Corporation, a global provider of Anti-Money Laundering (AML) analytics, risk management and reporting technologies, announced earlier this month their decision to form a partnership for the provision of mutual services and products. Haydrian will broaden its product portfolio by reselling Pathâs famed iMAL, an integrated suite of services reflecting an extensive range of Islamic business practices, and Path will resell Haydrianâs AML solution XM3, as well as the integration of XM3âs AML detection model into their Core Banking solution.
This new partnership with a forward thinking company like Path Solutions is key for Haydrian; âBy expanding our product portfolio, we are now able to offer more first tier products to our customers and meet the growing demand for compliance and banking solutions in the Middle East, Gulf and North-African Markets. Partnering with Path is the perfect opportunity to grow another important alliance in the region. Together we can offer banks and financial institutions a one-stop shopping when it comes to their banking and compliance needs,â said Johnny Harb, General Chairman for Haydrian MENA.
Haydrianâs XM3 is a world-class, first tier AML monitoring and compliance solution designed by subject matter experts in the areas of AML detection, risk management, human behavior modeling, pattern recognition and information technology. Haydrian XM3 is designed to deliver a comprehensive and robust AML solution that integrates seamlessly with financial institutionsâ operational systems and provides both batch and real time AML monitoring, proactive detection, and user-friendly reporting capabilities across a full spectrum of financial activities. XM3 is designed to be fast, reliable, secure, easy to deploy and reusable on any platform.
Path Solutions next-generation enterprise technology, iMAL, is a high-performance, high-speed, high-bandwidth, point-to-point solution. It provides a flexible, scalable modular architecture for all applications. iMAL is being designed from scratch to enable a powerful and service-oriented banking infrastructure without restrictions and with minimum disruption to banking operations. It is an Islamic competitive advantage-providing a large portfolio of products and services to support all functions within an organization.
âAs a part of Path Solutions, we can expand our reach and capabilities to the financial marketplace with a much broader set of solutions,â said Naji Moukadam, Path Solutions President. âBanks searching for an end-to-end solution that can deliver large-scale operations and in specific Business Intelligence performances will need to look no further. The combination of Path Solutions deep expertise with Haydrianâs Compliance is a powerful union that can give clients a deeper pool of resources for both prevention and risk management.â