Joyalukkas Oman Exchange adopts artificial intelligence-based technology to improve the efficiency of the compliance verification process with the requirements of the sanctions lists.

Following its success in the UAE, Joyalukas Exchange continues to roll out its AI-powered compliance solutions in more countries. Joyalukkas Exchange is one of the leading exchange and remittance companies in the Gulf region, backed by its partner Avia Technologies, a leading provider of analytics technology, transforming AML/CFT compliance through AI and ML. The solution integrates global penalty lists with dynamic datasets to analyze customer activity using multiple criteria, while machine learning models supported by a set of patented algorithms ensure highly accurate results.

Commenting on this, the General Manager of Oman Joy Alukas Exchange LLC Mr. Nixon Bibi said on Wednesday: Joy Alukas Exchange is committed to complying with Oman’s AML/CFT legislation and published guidelines. We are constantly looking for innovative technologies that allow us to strengthen and strengthen our regulatory compliance framework using the latest compliance solutions, therefore, the collaboration with Avea Technologies is an important step in achieving these efforts. Solutions AI-supported compliance and process automation.”

Sunil P. Ganesan, Chief Compliance Officer, Joyalukas Exchange LLC, Oman said: “The implementation of Avia Technologies’ AI-powered customer screening solution has significantly reduced false positives. It helps to take quick decisions by providing a panel of inquiry. It provides accurate results and complete and real-time information about the company under investigation.

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