Shares in Anemoi International Ltd (LSE:AMOI) jumped as much as 19% in early trading before easing back after its subsidiary ID4 announced a strategic partnership with Indian RegTech firm Zigram to boost its anti–money laundering (AML) offering.
The deal will see ID4 integrate Zigram’s PreScreening.io software, a cloud-based tool used for screening politically exposed persons, sanctions lists and negative news, into its compliance platform.
The two firms will also promote each other’s services and share client networks to accelerate global expansion.
ID4 chief executive Emmanuel Nay said Zigram’s proprietary data and 430-strong expert team would give clients “unmatched accuracy, depth and confidence” in their compliance systems.
Chairman Duncan Soukup said the partnership marked the first step in ID4’s new indirect sales strategy and could “generate significant revenue” as discussions continue on other contracts.
The global market for AML screening services is expected to triple to more than $15 billion by 2033.
The shares hit 1.34p earlier in the session before settling back to 1p. The business is valued at a micro-cap £1.34 million.