“The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it,” said Samuel Lim, Chief Compliance Officer of Binance. “We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.”
IdentityMind’s platform enables digital currency exchanges to comply with KYC and AML regulations worldwide. IdentityMind’s risk and compliance platform is the only real-time onboarding, transaction monitoring, and case management solution built for digital currency exchanges.
“With Binance’s tremendous trading volumes and its rapid expansion plans, compliance is naturally more challenging, especially in this fast-changing market,” said Garrett Gafke, President and CEO of IdentityMind. “Our risk and compliance platform powered by a patented digital identities engine meet the scale demands of Binance’s global operations while providing a highly accurate system for assessing any global risk factors from outside entities for transactions. We are excited to provide the necessary tools that will allow them to continue growing and serving more users around the world in a secure and compliant manner.”
- Guide: The Digital Identity Evaluation Guide
- Guide: Identity Proofing and Corroboration
- More information on IdentityMind’s AML product
IdentityMind, creator of Trusted Digital Identities (TDIs), offers a SaaS platform for online risk management and compliance automation. We help companies reduce client onboarding fraud and transaction fraud, and improve AML, sanctions screening, and KYC. IdentityMind continuously builds, validates and risk scores digital identities through eDNA™ technology to ensure global business safety and compliance from customer onboarding and throughout the customer lifecycle. We securely track the entities involved in each transaction (e.g. consumers, merchants, cardholders, payment wallets, alternative payment methods) to build payment reputations, and allow companies to identify and reduce potential fraud, evaluate merchant account applications, onboard accounts, enable identity verification services, and identify potential money laundering. For more information, visit IdentityMind on the Web, Twitter, LinkedIn, Facebook, Instagram, Blog, and Google My Business.
Binance is a blockchain ecosystem comprised of Binance Exchange, Labs, Launchpad, Info, Academy, Research, Trust Wallet and Charity.
Binance Exchange is the leading global cryptocurrency exchange, with users from over 190 countries and regions. Capable of processing more than 1.4 million orders per second, Binance is the largest crypto exchange by trade volume and one of the fastest in the world. The platform focuses on security, robustness, and execution speed — attracting enthusiasts and professional traders alike. For more information, visit: https://www.binance.com