End-to-end payment pros, Tipalti turned to our transaction monitoring solution for a consistent ratio of alerts to transactions as its business grew and grew.

The challenge

Tipalti is the leading end-to-end cloud solution for automating every phase of the supplier payments process. Its comprehensive accounts payable automation tool eliminates the need for time-consuming and complex spreadsheets. Through a single intuitive platform, organisations can oversee everything from supplier onboarding to invoice management, reducing up to 80% of the typical workload.

Paired with an exceptional customer-first approach, Tipalti has achieved excellent customer retention rates with big brands like Canva, Cazoo, GoDaddy and Twitch. On a weekly basis, Tipalti supports thousands of organizations paying millions of suppliers. For a single customer, this can amount to tens of thousands of daily transactions. They needed an automated transaction monitoring solution with the capacity to address and monitor all their transactions securely and efficiently.

AML transaction monitoring

High volumes made it difficult for Tipalti to monitor transactions for AML (anti-money laundering). Screening for unusual activity or patterns of activity and the ability to receive alerts for suspicious transactions was critical to prevent money laundering and ensure Tipalti met with regulatory compliance.

Workflow inefficiency

The laborious process of vetting suppliers, monitoring and altering transactions, verifying bank accounts and maintaining extensive financial reporting across more than 190 countries created undue workflow friction that needed to be streamlined to properly execute a robust compliance process.