Payall Payment Systems acquired Latvian Huntli team and bought source code
US-based Payall Payment Systems, a full-cycle modular infrastructure provider for international payments, has acqhired the team of Latvian startup Huntli. The US company has also acquired Huntli's source code and re-signed Huntli's clients.
Founded in Riga in 2021 by Lev Bass, Huntli is a solution designed to help combat financial fraud. The startup's technology makes the management of individual user profiles easier and checks for potential risks associated with money laundering, fraud, tax evasion, and other financial crimes. All the information is gathered in a single file and it is easy to read, process, and share with regulators on request.
The startup's risk management system detects and blocks any fraudulent activity, referred to the customer’s online banking account or payment card in real time. All this information is available in an easy-to-read format with quick action buttons to influence certain decisions. The startup's risk management system can be integrated with the customer's core banking system.
According to Payall Payment Systems, Huntli's team was a key factor in the deal. Payall Payment Systems has a small team in Lithuania and plans to use the deal to offer new capabilities to banks, central banks, regulators, and other financial institutions.
Founded in 2018 by Garijs Palmers in Miami, US, Payall is a platform for banks that allows regulated financial institutions to move money between each other more quickly. The company also offers features such as wallets, pay-in flexibility, pay-out, managed acceptance, virtual Mastercard, card acceptance, and communications platform.
