IdentityMind Global has partnered with B2Broker to provide it with KYC and AML compliance tools.
B2Broker is a liquidity and technology solutions provider for the foreign exchange and cryptocurrency markets. It has deployed IdentityMind Global’s solution to help it meet the revlevant KYC and AML compliance requirements for both itself and its B2B clients.
The company partnered with IdentityMind Global because it needed a full proof way for conducting KYC and AML compliance necessities, as well as conducting identity proofing, risk-based authentication, regulatory compliance, and the prevention of identity fraud.
Founded in 2014, B2Broker’s technology enables brokers to save time and cut costs on infrastructure products by providing cryptocurrency liquidity, crypto exchange turnkey, crypto payment gateway and investment solutions.
B2Broker COO Evgeniya Mykulyak said,“We use IdentityMind both for ourselves as B2Broker and also offer it to our B2B clients for KYC and AML in order to help with the process of verifying the identity of their clients and the assessment of potential risks of illegal intentions such as money laundering.
“Industry regulations are tougher than ever and in order to be compliant, and protect all parties involved, KYC and AML are a necessity. We have integrated all our services through IdentityMind’s standards-based API and use it on all of our offerings.”
IdentityMind Version 2.0, is a SaaS-based trusted digital identities platform provides, machine learning for know your customer (KYC) and overall anti-money laundering (AML) compliance, anomaly detection, regulatory compliance, and product development. It enables clients’ compliance, risk and fraud analysts to take a risk-based approach based on the understanding of the user behind the transaction.
The company is used by virtual currency exchanges, payment service providers, money transmitters, retailers, businesses performing ICOs or security token offerings, banks, broker/dealers and credit unions, across the world.
Last month, IdentityMind chose the Oracle Cloud Infrastructure to host its SaaS-based digital identities platform. The decision to pick Oracle was based on its ability to help secure all phases of the cloud migration.
The company also recently integrated CipherTrace’s digital currency risk assessment technology, in order to offer anti-money laundering analysis.
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