Payment Approved™ Acquires RegTech and AML Compliance Leader Optima Compass

Share Article

The acquisition enhances the growing FinTech startup’s suite of offerings, equipping it with best-in-class regulatory compliance technology to uphold a new standard of security and trust.

Payment Approved Logo

Together, we will empower domestic banks around the world to digitize with simplicity, tap into a trusted global network, and become regional leaders.

Payment Approved Technologies, LLC, a financial technology platform that is spearheading a global digital commerce network, announced today that it has acquired Optima Compass Group, LLC, a leading provider of RegTech solutions, including automated Anti-Money Laundering and consulting services.

With this acquisition, Payment Approved completes the loop of payment processing services and now can more securely deliver comprehensive solutions to banks, FinTechs, money service businesses, and others in the money movement chain. The addition of best-in-class compliance capabilities expands Payment Approved’s services to complete a cycle that is unique within the space.

Payment Approved bridges the technology and capabilities gap between banks, money transfer organizations, and FinTechs by enhancing their offerings. With the addition of Optima Compass Group’s powerful Compass Intelligence platform, Payment Approved adds a state-of-the-art compliance technology to its payment suite — an integral step towards building a foundation for global commerce digitization.

The newly formed powerhouse will evolve the money movement space by combining cutting-edge technology with AML compliance that can be leveraged globally. This unique value proposition will provide financial firms with the ability to process domestic and international money movement in real time through a global payment hub, with every transaction monitored under the watchful eye of industry-leading regulatory compliance solutions.

Joining Payment Approved is the founding team at Optima Compass Group, composed of legal and technology veterans with 25+ years of experience. Leading that team is industry titan Jorge Guerrero, the litigator who was instrumental in developing technology used to detect terrorism financing and money laundering parties and methodologies. “When we founded Optima Compass Group in 2005, we were dedicated to providing holistic Anti-Money Laundering (AML), Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) compliance solutions through an intuitive, simple technology interface,” Jorge shared. “Payment Approved is a natural partner for us, as its mission to drive commerce digitization around the world aligns with the vision we set for ourselves over 15 years ago.”

Payment Approved CEO Jason Montoya, who hand-picked Optima Compass Group out of dozens of prospective firms, was equally optimistic. “By joining forces with Optima Compass, Payment Approved will grant FinTechs and traditional financial institutions the ability to provide touchless and secure money movement in compliance with the highest regulatory controls. Together, we will empower domestic banks around the world to digitize with simplicity, tap into a trusted global network, and become regional leaders.”

“We are raising the bar around the globe for both technology and compliance standards,” Guerrero added. “Our solution expands accessibility to financial services entities by enabling financial institutions and FinTechs to leverage each other and expand access. Now, banks with legacy systems can seamlessly implement cutting-edge technology with speed, simplicity, and security. We are closer to transparent, global financial inclusion than ever before.”

To learn more about Payment Approved, visit our website or connect with us on LinkedIn.

About Payment Approved™
Payment Approved™ enables a new way to move money through an innovative global digital commerce network — designed to help businesses access faster, simpler, and more secure payments and money movement around the world. Its mission is to build the most trusted, comprehensive money movement network for every country, and human, in the world.

About Optima Compass Group
Optima Compass Group creates an easier way to monitor transactions through effective risk-based controls. Our automated software solution enables cost savings, efficiency, reliability, and consistency. All built to help you keep your business safe and satisfy your obligations to maintain financial safety and security.

Media Contact

For Payment Approved™ and Optima Compass Group
Christina Boothe

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Christina Boothe
Follow >
Payment Approved
Like >
Visit website