IdentityMind Global has launched a RegTech webstore to enable firms to integrate KYC and AML compliance functions.
The online store, dubbed IdentityMind Webstore, will allow firms located anywhere in the world to integrate regulatory compliance functions directly into their solutions. It is designed to be completely self-serve where customers can select a “plugin”, try a free demo if desired, prepay with a credit card (with virtual currencies and other payment methods soon to be available), and be up and running.
Its plugins are all-inclusive RegTech solutions ready to deploy in web applications covering the key anti-money laundering functions: know your customer (KYC), sanctions screening and transaction monitoring. They serve as front ends to IdentityMind’s Version 2.0 platform, which enables clients’ compliance and risk analysts to have a risk-based approach based on the understanding of the user behind the transaction.
Jose Caldera, Chief Products and Marketing Officer, IdentityMind Global. “The IdentityMind Webstore is the perfect channel for small and medium-sized FinTechs, marketplaces, virtual currency exchanges, small lenders, and person-to-person payment (P2P) firms to enhance their platforms.”
“No matter the size of the organization, they still need to have a compliance program that is adequate and that meets the full scope of the regulatory requirements. IdentityMind just enabled these organizations to get there faster with minimum investment and with the value of the most advanced RegTech AML platform for FinTech in the market today.”
The IdentityMind Webstore has launched with two initial plugins, KYC and ICO, with others scheduled for delivery later in Q4 2018 and 2019.
Its KYC Plugin is designed for firms in the FinTech space and has a customisable, user-facing onboarding form, which is pre-integrated with its Version 2.0 compliance and risk platform, with out-of-the-box rules to meet KYC requirements. The Plugin is integrated with more than 30 technology partners from the IdentityMind partner ecosystem.
To create the ICO plugin dentityMind has worked with over 10% (165+) of companies conducting a compliant initial coin offering (ICO) or security token offering (STO) and over 25 virtual currency exchanges around the world. Will experts in their solution category, ICOs are typically resource constrained and unfamiliar with local market legal and compliance requirements according to Caldera.
Payments platform ZED Network recently formed a strategic partnership with RegTech 100 company IdentityMind Global. Following the agreement, the company said it will use IdentityMind Global’s Version 2.0 platform to meet know your customer (KYC) and anti-money laundering (AML) compliance requirements for its Money Transfer Operators (MTO) worldwide.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
