PLANO, Texas – Catalyst has selected compliance technology provider Flagright to enhance its transaction monitoring and anti-money laundering compliance capabilities across its payment and treasury services for credit unions, according to Flagright.
The New York-based company said Tuesday that Catalyst will implement its AI-powered compliance platform, including transaction monitoring, customer risk scoring and a no-code case management system designed to strengthen risk oversight and streamline investigations.
Catalyst, which is headquartered in Plano, Texas, is the largest check processor serving U.S. credit unions and provides payment, liquidity, asset management and risk management services to credit unions nationwide, according to Flagright.
Brad Elliott, Catalyst’s vice president and BSA/OFAC compliance officer, said the organization’s nationwide operations require flexible compliance tools.
“Flagright’s no-code rules engine and case workspace will let our team address alerts quickly and document every decision with full auditability,” Elliott said in a statement.
Getting Suspicious in Real Time
According to Flagright, the platform’s transaction monitoring system is designed to identify potentially suspicious activity in real time by monitoring payment events, applying customizable rules and assigning automated risk scores. The platform also includes integrated case management tools intended to simplify investigations and regulatory reporting.
Brent Smith, Catalyst’s chief risk officer, said protecting payment systems is a critical priority for the organization.
“Flagright’s monitoring and AI forensics give us immediate visibility into suspicious activity, helping us protect credit unions and the communities they serve,” Smith said.
Baran Ozkan, co-founder and CEO of Flagright, said Catalyst’s focus on secure payment services aligns with the company’s AI-driven approach to financial crime detection.
“We look forward to supporting Catalyst as they continue to empower and protect credit unions and their members nationwide,” Ozkan said.
Flagright said its platform is designed to be deployed without extensive engineering resources through a no-code interface that allows compliance teams to configure monitoring rules and workflows.
