Fresh from listing on the New Zealand Stock Exchange, Wynyard Group has secured exclusive rights of the MHA Gateway service, an online anti-financial crime resource, for an undisclosed sum.
As part of the deal, the solutions provider has agreed terms on customer contracts, exclusive rights and intellectual property of the service.
Wynyard said the acquisition is in line with company’s strategy of growing its global customer base, and will further enhance its financial crime offering.
MHA Gateway helps financial institutions and their compliance officers identify, evaluate and avoid business and regulatory risk through providing online tools, pre-formatted templates, policy checklists, practice guides and country profiles to comply with Financial Crime and Anti-Money Laundering regulations in FATF countries.
Wynyard Group COO, Paul Stokes, said Wynyard is continuing to invest aggressively in its sales and marketing capabilities to acquire new customers and grow business with existing customers.
“Securing the MHA Gateway service, customer base and IP forms an integral part of Wynyard’s wider Financial Crime and Anti-Money Laundering offering and this acquisition is part of our ongoing commitment to helping businesses involved in financial activities, fight money laundering, counter the funding of terrorism, and comply with changing regulation."
Wynyard has previously enjoyed a successful relationship with MHA as a channel for its online resource through Wynyard Knowledge, a content portal which assists financial institutions and compliance officers by providing practice guides for managing financial crime and tools for reporting suspicious behaviour.
As part of the deal, Wynyard will take sole responsibility for the continued provision of the subscription service and fully support the Gateway.