FundAmerica, a builder of compliance solutions for crowdfunding platforms, has been purchased by Prime Trust.
With this acquisition the combined company, doing business as Prime Trust, can now provide technology, compliance and trust services to portals, broker-dealers, investment advisers and direct issuers who use the internet to raise funds in compliance with US regulations.
FundAmerica builds SEC-compliant solutions for technology-based securities offerings. The company’s platform provides anti-money laundering (AML) screening and bad actor checks, payment acceptance solutions for both fiat and cryptocurrencies, online investing, escrow management, and broker-dealer compliance and syndication tools.
Prime Trust said the company’s solutions will act as key utilities for it to provide turnkey compliance and custody solutions to the securities industry, including issuers conducting offerings pursuant to SEC rules for Reg A, Reg D, Reg S, and Reg CF.
“Our key focus has been to build up Prime Trust’s technology edge as we scale our services to provide securities, token and FIAT custody, funds processing, AML and KYC compliance, and transaction technology for the new digital economy,” said Scott Purcell, CEO of Prime Trust.
Prime Trust is a blockchain-driven trust company which provides token and FIAT custody, funds processing, AML/KYC compliance, and transaction technology for the new digital economy. As a regulated, chartered financial institution Prime Trust maintains a robust, PATRIOT Act compliant AML program. Its systems are built to perform KYC, collect customer data and complete AML background checks.
“We look forward to combining our strengths as we work towards our goal to provide the best-in-class solutions for securities issuers, including ICO and STO, to seamlessly meet the needs of their offerings, their advisers, the exchanges and secondary markets,” Purcell added.
FundAmerica’s systems are built into KYC, collecting customer data and performing complete AML background checks. With the collected data the company runs a ‘rigorous analysis’ to verify the identity of the customer. It also provides compliance & syndication tools for securities professionals.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
