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IndustryUpdate

in which data sharing in the UK could be improved
to prevent economic crime while taking account of
existing and forthcoming privacy legislation. The
association stated, for example, that collaboration
both between regulated entities and between public
and private sectors is key to progress on data sharing
to prevent economic crime. The report also presents
changes that may be introduced by the Economic
Crime and Corporate Transparency Bill now mak-
ing its way through the UK Parliament. Researchers
noted that global estimates suggest that $2 trillion
is laundered annually, illicit finance has become a
prevalent business worldwide, and "economic crime
is, in short, the crime of our times, and is increasingly
being recognized as a threat to the UK's national
security."

PARTNERSHIPS

Aevi teams up with XAC, launches
solution with TSYS
Aevi, a firm specializing in in-person payments,
stated it partnered with XAC Automation Corp. to
deliver highly integrated, compact, future-proof pay-
ment solutions to ISOs seeking entry-level, ready-to-
go merchant solutions that combine payment accep-
tance and a white-labeled, light-weight POS applica-
tion.The product, Android Starter Pack, is a low-risk
entry point into the smart market, the partners noted,
adding that ISOs can easily buy and sell with this
plug-and-play user interface, making the process
effortless and hassle-free and enabling ISOs to run
their businesses more efficiently. XAC, Aevi stated,
provides the payment terminal, which leverages an
Android platform and secure payment modules in
a compact design. In other news, Aevi launched its
first pilot merchant on the TSYS processing platform
in collaboration with Vivid Payments.

The first merchant to go live with what Aevi described
as its cloud-based payment orchestration platform is
a salon in North America. This marks a significant
milestone for Aevi, the company noted, as it is ready
to expand its reach and bring innovative digital pay-
ment solutions to more TSYS ISOs. The top priority
for TSYS, Aevi added, is to establish mutually ben-
eficial partnerships with ISOs, making it easy and
profitable for ISOs to acquire merchants.

Alacriti, Socure to provide
instant fraud prevention
Alacriti, a fintech company specializing in payments,
partnered with Socure, a provider of digital identity
verification and fraud solutions, to deliver third-par-
ty and synthetic identity fraud prevention for instant
payments. This partnership allows financial institu-
tions to utilize end-to-end, turnkey, instant payment

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