IdentityMind Global is set to provide KYC and AML compliance support to Etherparty Smart Contracts, a Canadian blockchain technology company.
Etherparty, a wholly owned subsidiary of Vanbex Group, end-to-end smart contract solutions, the first of which is crowdfund creator Rocket. The platform aims to remove the complexity and management of creating and executing an ICO across multiple blockchains, which will include compatibility with Ethereum and Bitcoin’s blockchains at launch this spring.
Its user can pay with all services across all product pillars through FUEL, an ERC-20 compatible token. Etherparty said the Rocket software product expects to support well over 20 crowdsales on multiple blockchains this year.
IdentityMind will provide a turnkey solution for customer onboarding, helping conduct know your customer (KYC) in an ‘automated fashion’, while meeting regulations worldwide. In addition, it provides anti-money laundering (AML) checks on potential ICO contributors.
Kevin Hobbs, CEO, Vanbex Group said, “We’re excited to partner with IdentityMind, the leading KYC and AML solution white label provider for companies who support utility or security tokens.”
“Their KYC solution is the perfect complement to Etherparty’s end-to-end solution for crowdfunding. IdentityMind has everything we need – a proven, established product; domain expertise; extensive knowledge of the evolving global, regulatory and compliance environments; and proactive client services. Going forward, we have a more complete solution for our customers.”
IdentityMind provides a SaaS RegTech platform that builds, maintains and analyses digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud. Along with expanding its sales and marketing efforts, the new funds will be used to drive expansion within international markets, including Asia, Latin America and Europe.
Last year, IdentityMind was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
In February, IdentityMind Global closed a $10m Series C round of financing to meet the global demand for digital identities. In addition to all existing investors, the round was co-led by Benhamou Global Ventures and Eastern Link Capital and included Hanna Ventures, Overstock.com, and Zanadu Capital Partners.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
