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ACCELERATED COMPLIANCE FOR VIRTUAL CURRENCY STARTUPS

 

 

Virtual currency is the future. You know that or you wouldn’t be in the business. And like many hot industries that are the future, virtual currency has been visited by the present – regulation. As a virtual currency company, you need to be fully-compliant with the current slate of AML and sanctions screening regulations in order to grow your business and stay away from fines. And, of course, there’s the risk of new online customers. IdentityMind can help.

IdentityMind is a risk and compliance platform that lets you see who’s on the other end of the transaction. We have helped many of the top virtual currency companies automate their compliance, and reduce their fraud losses. We help you identify the good guys you want to do business with and the bad guys you want to avoid. And, we enable you to modify your risk process on the fly, adding in additional checks where merited so you can show the good guys the fast lane and the bad guys the exits. Use the IdentityMind platform as your main fraud and compliance system or use our API to layer our capabilities on your existing platform.

Benefits

Get Started Fast

Our standards-based platform and knowledgable team can get can get you integrated and up and running, and processing payments as soon as possible.

Prevent Fraud with Advanced Protection

Our eDNA™ technology, through machine learning, builds digital identities and analyzes them to provide a more accurate picture of risk, enabling better customer selection and fewer rejections of good customers. Our algorithms provide reputations for each entity tailored for the industry in which you do business.

Keep Operation Costs Down

We automate risk and compliance processes so that you don’t need an army to handle your high volumes. When you do need to escalate to a manual review, we’ll alert your team and create a case so that your analysts can handle it.

Comprehensive Solution

IdentityMind provides and integrated solution to achieve KYC, Transaction Monitoring for Anti-Money Laundering, Sanctions Screening and PCI Compliance

Leading Solution Without Breaking the Bank

We’ll work with you to find a starting payment plan that fits your business, even if you’re just starting out.

Features

Digital Identities

  • Identity creation
  • Identity validation
  • Real time risk scoring through machine learning
  • Access to ldentityMind network of over 200 million identities

Fraud Prevention

  • Global identity validation
  • Risk scoring through machine learning
  • Automated, continuous transaction monitoring
  • Rules, alerts, cases
  • Queue management

Compliance

Sanctions Screening

  • Built-In SAR filing
  • Social network, deep and dark web data

AML

  • Document upload, verification
  • Customer white list
  • Customer black list
  • Transaction monitoring

KYC

  • 20+ data services, one API

… and more

  • Configurable account dashboard for viewing reports, individual interactions and more
  • Compliance reports
  • Queue management
  • Geo-fencing

Why IdentityMind

The Network Effect

IdentityMind is the most powerful customer reputation source for Virtual Currency companies around the world.

Integrated Platform

One solution for Payments, and Risk+ Compliance (KYC, Transaction Monitoring, Fraud Prevention, Sanctions and PEP screening).

Scalable Solution

Expand safely as your business demands it. We worry about data storage, global coverage, performance, AML regulations, and the most flexible pricing model.

Single Vendor

One integration gets you access to 20 partners for customer and business verification, document verification, device fingerprinting, and more.

Selected Customers

Trusted Digital Identities

Identity is critical to reducing risk and ensuring compliance in today’s digital financial services. Trusted digital identities help you Identify who is on the other end of the transaction and help you decide whether you should do business with them.

"2017 will be the year of digital identities...there is no identity without trust and vice versa. Further identity and trust impact and influence payment methods and enable or disable currencies. I view digital identities as the corner stone of the future of financial services industry."

Pascal Bouvier

Physical Identities

  • Name
  • Address
  • Device
Basic identity information that is based on physical documents.

Information is limited, static, siloed and, in some cases, easy for a fraudster to acquire.

Digital Identities

  • Name
  • Address
  • Payments
  • DOB
  • SSN
  • Email
  • IP Geo-location
  • Device
  • Ship to Address
  • Payment Behavior
  • Black/White Lists
  • Sanction Lists
  • Document Verification
  • Social Media
  • Carrier/Mobile Data
  • Bill to Address
  • Account Validation
More detailed information that includes digital information such as email, IP address, mobile phone. It may also include verification of provided such as account information.

Information is interconnected and reflects a wide variety of information on top of physical documents.

Trusted Digital Identities

  • Name
  • Address
  • Payments
  • DOB
  • SSN
  • Email
  • IP Geo-location
  • Device
  • Ship to Address
  • Payment Behavior
  • Black/White Lists
  • Sanction Lists
  • Document Verification
  • Social Media
  • Carrier/Mobile Data
  • Bill to Address
  • Account Validation
  • Graph Intelligence
Trusted digital identities are digital identities that are analyzed to verify identity, to identify the most recent information and known associates, and to ultimately risk score the identity. The result is an evaluation based on the most recent picture of the entity in question.


Use this slider to see the advantages granted by our patented Trust Digital Identities.

Further Reading

White Paper: 10 Essential Terms for Bitcoin Compliance

We’ve worked with a variety of companies in the Cryptocurrency space. One of the most common issues we see is a lack of understanding of Anti-Money Laundering, Regulation, and the agencies governing the industry.

To address this issue, we created the 10 Essential Terms for Bitcoin Regulation white paper intended to provide cryptocurrency companies, and the bitcoin industry in general, with an introduction to the essential terms, practices, and regulations every company should know. Our goal is to provide the resources needed to facilitate a meaningful conversation around regulation and anti-money laundering requirements as acceptance and legislation moves forward.

This document includes an introduction to money laundering, The Bank Secrecy Act, and The Four Pillars of AML.

Get the Guide

Are ICOs Money Service Businesses now?

Are ICOs Money Service Businesses now?

In one of our recent webinars, Sarah Hody, of the law firm Perkins Coie stated that “If a token is administrating or exchanging virtual currencies, FinCEN could deem the ICO issuer a money transmitter, which would require them to be registered under the federal BSA...

read more
To find out more about our solutions, simply fill in the form or call us at 650.618.9977.