Ontology, a new public blockchain project and a distributed trust collaboration platform, has partnered with RegTech provider 4Stop.
The company has picked 4Stop, a KYC, and anti–fraud solutions provider to perform KYC on the Ontology ecosystem. Together they will work together to provide digital identity services.
Empowered by Ontology Distributed Ledger Technology, 4Stop is set to partake in Ontology’s trust system that integrates global certification sources to verify and authenticate people, assets, objects, and affairs.
Ontology will use 4Stop to perform know your customer (KYC) compliance requirements, further ensuring that the blockchain industry continues to advocate trust as an emerging technology. According to a statement from the blockchain company, 4Stop will provide necessary services that include validation, verification, and authentication of people.
Ingo Ernst, CEO of 4Stop, said: “With the ever-evolving adoption of blockchain technology, we are very excited to be part of Ontology’s innovate blockchain project by providing them with further KYC services to verify and authenticate personal data across the globe.
“Creating a mainstream, standardized, and easily accessible compliant and trusted infrastructure is something we are both passionate about, and we look forward to Ontology’s future developments.”
Earlier this year, 4Stop partnered with Web Shield and launched its global merchant underwriting solution.
4Stop’s platform now enables businesses to perform investigations on their merchants to mitigate any risks hidden within business relationships and to obtain a confident, compliant and secure merchant onboarding process.
Web Shield equipped the payments industry with tools that protect businesses from merchants involved in illegal or non-compliant activities. The company will leverage Web Shield’s InvestiGate product, which provides risk analysis and recommendations with results delivered in near real time.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
