Ernie Honya focuses on lowering AML and KYC compliance costs for emerging FinTech companies
LOS ANGELES, CA – Busway Inc. CEO Ernie Honya is drawing attention to a growing challenge in the financial sector: the rising cost of Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance for startups and early-stage financial technology firms. Since 2015, Busway Inc., a California-based SaaS software company, has provided AML and KYC solutions designed to help startups and FinTechs meet regulatory requirements without carrying the heavy financial burden often associated with compliance infrastructure.
AML compliance has become a core operational requirement for banks, FinTech platforms, and financial service providers worldwide. Institutions are required to screen customers, monitor transactions, and identify potential financial crime using specialized data and software. Without access to reliable AML and KYC technology, financial institutions cannot meet regulatory expectations.
Many compliance software providers operate in a market where demand is driven by regulation rather than choice. As a result, pricing has steadily increased, leaving startups and pre-revenue companies with few affordable options. This has made compliance one of the most difficult operational costs for new financial firms entering the market.
Busway Inc. CEO Ernie Honya has positioned the company to address this challenge by using machine learning and automation to improve efficiency while keeping pricing accessible. Busway’s platform provides screening for politically exposed persons, sanctions lists, and adverse media while helping financial institutions manage regulatory risk without relying on high-cost legacy systems.
For startups and FinTechs, compliance expenses can represent a significant portion of their operating budget before revenue is even generated. Busway offers an alternative approach that allows companies to launch and operate while maintaining AML and KYC standards in a more financially manageable way.
Busway’s low-cost compliance model has gained increasing attention among FinTech firms seeking to control expenses while meeting regulatory obligations. The company continues to support banks, payment platforms, and financial service providers that require dependable compliance tools without excessive software fees.
About Ernie Honya
Ernie Honya is the CEO of Busway Inc. He holds a bachelor’s degree from UC Berkeley and a master’s degree from the University of Oxford. He is a published author and an expert on matters relating to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF). Ernie worked in the banking sector before becoming CEO of Busway Inc. He is based in California, USA.
For more information about Ernie Honya, visit: https://www.linkedin.com
About Busway, Inc.
Busway Inc. is a SaaS software company providing AML and KYC compliance solutions to banks and financial institutions worldwide. Founded in 2015, the company specializes in PEP, sanctions, and adverse media data supported by machine learning and automation.
For more information about Busway, visit: https://www.buswayinc.com
Media Contact:
- Jessica Taylor
- Busway Inc.
- buswayinc.com
- +1 (818) 284-6094
- jessica@busway-inc.com
