London based payments solutions company Pelican has partnered with Canada based Banking Labs which is a payments software company. This partnership will allow Pelican to bring its PelicanPayments, PelicanSecure payments and other compliance solutions to the financial services industry in Canada with the help of Banking Lab which will sell, help to deploy and support Pelican’s solutions in the Canadian market.

“We are excited about the potential for our payments and compliance solutions in the Canadian market. Forming this strategic partnership with Banking Labs means we can together help banks and corporations manage regulatory changes and achieve payments-related operational efficiencies using AI and NLP, as well as machine learning techniques,” said CEO of Pelican Parth Desai.

Banking Lab is specialised in providing technology solutions using Artificial Intelligence (AI) and Machine Learning (MI) for payments, audit, Foreign Account Tax Compliance Act (FATCA) and Anti-Money Laundering (AML) solutions.

“This is a strategic partnership with Pelican which further strengthens our compliance capabilities to offer sustainable and value-creation solutions to Canadian customers. In our view, Pelican’s use of AI and NLP in compliance products is revolutionary,” said CEO of Banking Labs Dr Ravi Gedela.