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Adtalem (ATGE) Launches CAFCA Scholarship Program for BIPOC

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Association of Certified Anti-Money Laundering Specialists (“ACAMS”), part of Adtalem Global Education Inc.’s (ATGE - Free Report) Financial Services unit, has announced a scholarship program for Black, Indigenous and People of Color (BIPOC) professionals to become a Certified AML FinTech Compliance Associate (CAFCA).

The CAFCA program will accommodate only 30 applicants to take the FinTech compliance certification course with a full waiver of fees. The waiver would include training materials costs and examination charges.

The scholarship holders will be educated to enhance their compliance skills and knowledge of FinTech personnel working in entry-level financial crime prevention. In order to develop this scholarship program, ACAMS has partnered with the specialist consultancy — FINTRAIL. The CAFCA is designed to train compliance professionals at FinTech offering services like prepaid card issuers, payment service providers, neo-banks, insuretech companies, and crowdfunding and peer-to-peer organizations.

With respect to the latest launch, Scott Liles, president of ACAMS, stated,” The CAFCA Scholarship Program is a reflection not only of our values as an organization but also of one of the core strengths of the global compliance community at large: its diversity of perspective and experience.”

Adtalem has been addressing the need for anti-financial crime compliance globally over the past several years though ACAMS. Currently, ACAMS is one of the leading international organizations to educate people with skills of anti-money laundering (AML) and financial crime prevention.

Financial Services & Share Performance

The Financial Services segment of Adtalem includes the entire operation of ACAMS, Becker Professional Education, OnCourse Learning and EduPristine. In 2020, ACAMS launched Certified Transaction Monitoring Associate (“CTMA”) in September, CKYCA in July and Certified Global Sanctions Specialist certification program earlier that year.

During the third quarter of fiscal 2021, revenues in the Financial Services segment totaled $50.4 million, which increased 14.3% year over year driven by a rise in revenues at ACAMS, OnCourse Learning and Becker. At ACAMS, revenues marked an increase as the business continued to diversify its offerings to address a broader range of customer needs.

So far this year, shares of Adtalem have gained 13.5% against the Zacks Schools industry’s 38.6% fall. The company is benefiting from robust demand for OnCourse learning. Also, introduction of evening and weekend classes boost enrollment and revenues in Medical, Healthcare and Financial Services. We believe these initiatives will help the company gain higher profits in the future.

 

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Zacks Rank

Adtalem — which shares space with American Public Education, Inc. (APEI - Free Report) , Strategic Education, Inc. (STRA - Free Report) and GP Strategies Corporation in the Zacks Schools — currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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