RegTech 100 company Riskifier has launched new risk assessment services for cryptocurrencies.
The new platform, dubbed Cryptoprofiler, will provides investor risk profiling, product risk classification and social sentiment analysis of cryptocurrencies. The aim is to empower between investment decisions according to the RegTech.
Despite the Cryptocurency growing in popularity over the past 12 months, there are still a number of Risk attached to the market including volatility, volition, liquidity, lack of investor protection, theft & fraud, faux technology, and regulation.
Cryptocurrencies by their very nature are not regulated. However, they are attracting considerable attention of central bank, regulators and legislators, who are seeking to identify the regulatory measures that may be necessary to mitigate concerns over security, consumer protection and financial crime.
Cryptoprofiler.com claims to transfer ‘two important pillars of the investor protection framework’ in traditional financial market regulations into the crypto space: Investor Risk Profiling/Suitability Assessment and Product Risk Classification.
The beta platform offers a designated profiling solution focusing on risk capacity, knowledge & experience. Focusing on cryptocurrencies, educating user in regards to behavioural biases and providing insights into investment topic preferences.
It also offers the very specific risks of cryptocurrencies designed risk classification framework. This covers various data points of liquidity risk, market risk and issuer risk topics as well as sentiment analysis of the public opinion for specific coins.
Additional features such as portfolio risk analysis for individuals and an API providing risk and social sentiment metrics for professional cryptocurrency investors are also set to be added soon. The company is also looking to enhance the risk scoring model and provide of additional data points through the API; however, this will be rolled out in the future.
Riskifier aims to enable financial institutions better understand their client in an increasing regulated environment. It provides a MiFID II compliant digital solution, with imbedded guidelines, inconsistency checks, alerts and client focused report, raising a clients awareness about their financial decision making strengths and weaknesses. The solution also offers behavioral Insights and social insights.
Last year, Riskifier 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.
Nominations for the RegTech 100 2019 are set to open soon.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
