Pelican, a global provider of AI-powered payments and financial crime compliance solutions for banks and corporates, announced on Tuesday it has expanded its global sales reach by partnering with CMSoft Co., Ltd in South Korea. According to Pelican, the new strategic partnership will enable the company to bring its PelicanSecure Trade Compliance solution to the financial services industry in South Korea.
Parth Desai, CEO of Pelican further explained the partnership and expansion by stating:
“We are excited about the potential for our PelicanSecure Trade Compliance solution in South Korea and delighted to be forming this strategic partnership with CMSoft to help banks tackle the increasing burden of trade-based money laundering.”
Jong Hoon Lee, CEO of CMSoft added:
“We see a growing need from banks for technology that can automate and streamline their trade processing and compliance functions. Pelican stood out in comparison to other vendors globally given their focus and proven expertise in this area. We are very enthusiastic about the potential for PelicanSecure in South Korea and are already engaging with a number of local banks to discuss the benefits of the solution.”
Founded in 1993, Pelican provides banks and corporates with solutions that enhance, streamline and secure the payments life-cycle. Since launch, Pelican has enabled benefits and increased speed dot market for customers in more than 55 countries and has processed more than one billion transactions worth over $5 trillion.