MoneyGram has partnered with AiPrise, an AI-powered compliance and verification platform, to modernize verification and fraud prevention across its global network.
The payments company, which serves well over 60 million customers in 200+ countries, will use AiPrise’s technology to streamline select verification processes.
By integrating AiPrise’s platform, MoneyGram gains a more consistent and efficient way to review information and document verification decisions in the markets covered by the rollout. AiPrise draws on more than 100 data sources worldwide. Through a single API, the platform supports KYB, KYC, AML screening, and document verification across 200+ countries.
MoneyGram facilitates connections through a huge number of retail branches and an expanding digital ecosystem. The organization is updating the system behind its network and is working on innovations that help its personnel carry out verification processes uniformly in different markets.
According to Bahar Sahajwalla, Chief Regulatory and Public Affairs Officer at MoneyGram, verification plays a key role in maintaining a reliable worldwide payment system. AiPrise gives the company’s teams a simpler and more comprehensive way to check information while keeping standards consistent across markets.
Luke Tuttle, Chief Product and Technology Officer at MoneyGram, noted that the company is turning itself into a more modern, connected fintech platform. He added that maintaining the trust of millions of customers requires continued investment in technology and infrastructure and that AiPrise will help modernize key processes.
“MoneyGram moves money across more markets than almost any company in the world, which means their compliance has to work everywhere, all the time,” said Chaitanya Sarda, CEO of AiPrise.
“That’s exactly what we built AiPrise for: helping companies streamline complex verification processes using a purpose-built, AI-driven platform, while giving compliance teams the information and audit-ready rationale they need to make confident decisions.”
The partnership comes as fraud continues to rise. According to Nasdaq Verafin, global losses from fraud scams and bank fraud schemes reached $579.4 billion last year, an annualized increase of 9.2% since 2023. AiPrise founder Chaitanya Sarda previously spent nearly five years at Google developing fraud-prevention technology, including systems that identified millions of spam calls daily.
AiPrise positions its AI agents as tools that help compliance teams reach decisions in minutes rather than days. The company is backed by Y Combinator and is headquartered in Santa Clara, California. MoneyGram, for its part, continues to develop an omnichannel platform that supports both fiat and stablecoin transactions.
