Terms of Service

1. Definitions

• "Kori" / "Platform": The Kori AML Intelligence Platform, operated by Seamount.io
• "Client": The financial institution, fintech, VASP, or regulated entity that has subscribed to the Platform
• "Authorised User": An employee or contractor of the Client granted access to the Platform by the Client
• "Services": Real-time transaction monitoring, risk scoring, alert management, graph analysis, audit logging, and related compliance tools
• "Transaction Data": Data submitted by the Client to the Platform for monitoring and analysis
• "Subscription": The paid plan selected by the Client (Starter, Professional, Growth, or Enterprise)
• "CBN": Central Bank of Nigeria; "CBK": Central Bank of Kenya

2. Eligibility and Account Registration

The Platform is intended exclusively for regulated financial institutions and their authorised personnel. By subscribing, the Client represents and warrants that:

• It is a legal entity duly incorporated and licensed to operate in Nigeria or Kenya (or both)
• It holds all applicable licences required by the CBN, CBK, NFIU, or other relevant regulatory authority
• The individual accepting these Terms has authority to bind the Client entity
• All information provided during registration is accurate, complete, and current
• It will maintain the confidentiality of platform credentials and promptly notify Kori of any unauthorised access

3. Platform Access and Subscription

3.1 Grant of Licence

Subject to payment of the applicable Subscription fees and compliance with these Terms, Kori grants the Client a non-exclusive, non-transferable, revocable licence to access and use the Platform for its internal AML/CFT/CPF compliance operations during the subscription term.

3.2 Subscription Plans

A free tier providing 1,000 API requests per day is available for integration testing only and must not be used for production transaction monitoring.

3.3 Billing and Payment

• Subscriptions are billed monthly in advance via Paystack (Nigeria) or Flutterwave (Kenya)
• Fees are non-refundable except as required by applicable consumer protection law
• Annual subscriptions receive a 2-month discount (10 months' payment for 12 months' access)
• Failure to pay within 14 days of the due date may result in suspension of platform access
• Prices are subject to change with 60 days' notice to the Client's registered email

4. Acceptable Use

The Client agrees to use the Platform only for lawful AML/CFT/CPF compliance purposes and shall not:

• Use the Platform to process data of individuals in violation of applicable data protection laws
• Attempt to circumvent, reverse engineer, or extract the Platform's source code or algorithms
• Share API keys or access credentials with parties outside the Client's institution
• Submit false, fabricated, or test transactions as live monitoring data
• Use the Platform in any manner that violates CBN, CBK, FATF, or other applicable AML/CFT regulatory requirements
• Attempt to access data of other institutions or breach the platform's data isolation controls

5. Client Responsibilities and Compliance Obligations

The Client is solely responsible for:

• Designating and training qualified Authorised Users (including a Chief Compliance Officer or CMLCO)
• Reviewing and acting on alerts generated by the Platform within required investigation timelines
• Filing Suspicious Transaction Reports (STRs) with the NFIU (Nigeria) or FRC (Kenya) as required by law
• Maintaining internal policies, procedures, and controls that comply with the CBN Baseline Standards and equivalent Kenyan regulations
• Validating that the Platform's risk models and thresholds are calibrated to the Client's risk appetite
• Ensuring that Transaction Data submitted to the Platform is obtained lawfully and with appropriate customer consent
• Obtaining and maintaining all licences and regulatory approvals required to operate

6. Data Processing

The parties acknowledge that:

• The Client is the data controller for Transaction Data and end-customer personal data
• Kori acts as a data processor processing Transaction Data on behalf of the Client pursuant to documented instructions
• A separate Data Processing Agreement (DPA) governs the processing of personal data and is incorporated into these Terms by reference
• Each party shall comply with applicable data protection laws, including the NDPA 2023, NDPR 2019, and Kenya DPA 2019

7. Intellectual Property

All intellectual property rights in the Platform (including software, algorithms, graph models, risk scoring logic, and documentation) are owned by Seamount.io. The Client receives no ownership rights. The Client retains all rights to its Transaction Data and reports generated from that data.

8. Confidentiality

Each party agrees to keep the other party's confidential information strictly confidential and to use it only for the purposes of these Terms. This obligation survives termination for a period of 5 years. Confidential information does not include information that is publicly available, independently developed, or required to be disclosed by law.

9. Warranties and Disclaimers

Kori warrants that the Platform will perform substantially in accordance with its documentation. Kori does not warrant that:

• The Platform will detect all instances of money laundering, fraud, or financial crime
• The Platform's outputs will satisfy the requirements of any specific regulatory examination
• The Platform will operate without interruption or be error-free

THE PLATFORM IS PROVIDED ON AN "AS IS" BASIS TO THE EXTENT PERMITTED BY LAW. KORI DISCLAIMS ALL OTHER WARRANTIES, EXPRESS OR IMPLIED.

10. Limitation of Liability

To the maximum extent permitted by applicable law:

• Kori's total aggregate liability to the Client shall not exceed the total Subscription fees paid in the 12 months preceding the claim
• Kori shall not be liable for any indirect, consequential, special, incidental, or punitive damages
• Kori shall not be liable for any regulatory fines, penalties, or sanctions imposed on the Client by any authority
• Nothing in these Terms limits liability for fraud, death, or personal injury caused by negligence

11. Indemnification

The Client agrees to indemnify, defend, and hold harmless Kori and its officers, directors, and employees from any claims, damages, losses, or expenses (including legal fees) arising from: (a) the Client's breach of these Terms; (b) the Client's violation of applicable law; (c) any claim by a third party arising from the Client's use of the Platform; or (d) any inaccuracy in Transaction Data submitted by the Client.

12. Term and Termination

• Term: These Terms commence on the date the Client first accesses the Platform and continue until the Subscription is terminated
• Termination by Client: The Client may cancel its Subscription at any time; cancellation takes effect at the end of the current billing period
• Termination by Kori: Kori may terminate immediately if the Client breaches material provisions of these Terms, fails to pay, or engages in unlawful use
• Effect of Termination: Upon termination, the Client's access will be revoked. The Client may request an export of its data within 30 days of termination. Data will be retained for the periods specified in the Privacy Policy and then deleted

13. Service Levels and Availability

Kori targets 99.9% platform availability (excluding scheduled maintenance). Scheduled maintenance will be notified at least 48 hours in advance. Enterprise clients are entitled to agreed SLAs set out in their Enterprise Agreement.

14. Consortium Blocklist

Participation in the consortium blocklist feature is voluntary. By enabling this feature, the Client grants Kori permission to share the Client's contributed indicators (in hashed form) with other participating institutions. The Client remains responsible for the accuracy and legality of indicators it contributes.

15. Governing Law and Dispute Resolution

For Nigerian Clients, these Terms are governed by the laws of the Federal Republic of Nigeria. For Kenyan Clients, these Terms are governed by the laws of the Republic of Kenya. Disputes shall first be subject to good-faith negotiation for 30 days, then mediation, and finally binding arbitration under the rules of the Lagos Court of Arbitration (Nigeria) or the Nairobi Centre for International Arbitration (Kenya), as applicable.

16. Regulatory Compliance Notices

• Nigeria: The Platform is designed to assist institutions in meeting the requirements of the CBN Baseline Standards for Automated AML/CFT/CPF Solutions (CMD/DIR/PUB/CIR/001006, March 2026), the Money Laundering (Prevention and Prohibition) Act 2022, and the Terrorism (Prevention and Prohibition) Act 2022. The CBN does not certify or endorse this Platform.
• Kenya: The Platform is designed to assist institutions in meeting the requirements of the Proceeds of Crime and Anti-Money Laundering Act (POCAMLA) and CBK AML/CFT guidelines. The CBK does not certify or endorse this Platform.

17. Amendments

Kori reserves the right to amend these Terms. Material amendments will be notified to Clients at least 30 days before taking effect. Continued use of the Platform after the effective date constitutes acceptance of the amended Terms.

18. Contact

• General enquiries: Business@seamount.io
• Phone: +254-751875374
• Platform: kori.seamount.io