Australian crypto exchange Blockbid has increased its fraud prevention security and KYC solutions by partnering with LexisNexis.
Blockbid claims it is one of the first trading platforms to voluntarily observe global anti-money laundering(AML) measures by partnering with LexisNexis and ThreatMetrix security technology firms.
Through the deal, Blockbid now has access to identity verification, authentication and KYC solutions that merge physical- with digital-identity data.
According to the blog post by the exchange, the newly adopted technology combines physical and digital identity data, government-issued identifiers, addresses, and biometrics with device identification, geolocation, behavioral analysis, and threat intelligence.
“The alliance with LexisNexis Risk Solutions and ThreatMetrix accelerates the Blockbid strategy to offer its customers the world’s most secure cryptocurrency exchange on which to transact,” said David Sapper, Blockbid COO.
“The technology, KYC processing, and fraud prevention that they provide will enhance the user experience, empowering our customers to trade with confidence and not worry about fraudulent behaviour. We look forward to opening our doors worldwide to all traders and investors who want to use a platform that is legitimate and provides asset insurance, as well.”
Earlier this year, CRIF, a global providers of business information, tapped LexisNexis Risk Solutions’ platform for KYC requirements. Through the alliance, CRIF will integrate LexisNexis Risk Solutions WorldCompliance Data product into its SkyMinder platform.
LexisNexis also recently partnered with AML Accelerate to enable its customers to comply with AML/CFT compliance obligations.
In February, LexisNexis Risk Solutions closed the acquisition of ThreatMetrix, a Silicon Valley-based digital identity platform. The company’s expertise in digital identity was combined with the physical identity expertise of LexisNexis Risk Solutions, enabling companies around the world to protect themselves against existing and emerging fraud, risks and financial crime.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
