IdentityMind Plays Key Role as One of RCN’s Trusted Agents Providing ID Verification Services to the RCN Network
PALO ALTO, CA., April 30, 2018 – IdentityMind Global™, Digital Identities You Can Trust, today announced that Ripio Credit Network (RCN), a global peer-to-peer credit network based on co-signed smart contracts that connect lenders and borrowers located anywhere in the world, has partnered with IdentityMind to provide KYC and AML compliance support.
IdentityMind provides a turnkey solution for customer onboarding, helping companies conduct know your customer (KYC) in an automated fashion, while meeting regulations worldwide. In addition, it provides anti-money laundering (AML) checks on potential contributors.
“We selected IdentityMInd based on their market leadership, successful track record and experience working with other leading companies,” said David Garcia, managing director, RCN. “Within our network, IdentityMind is one of our trusted agents providing ID verification services.”
Other agents within RCN’s protocol include Wallet Providers, ID Verifiers – where IdentityMind comes into play – Scoring Agents, Cosigners, Credit Exchanges and Oracle, which references the price of the RCN token in real time.
“IdentityMind is empowering businesses of the future like RCN that utilize blockchain technology and smart contract to disrupt peer-to-peer lending models,” said Garrett Gafke, CEO, IdentityMind Global. “In RCN’s case, they are breaking down traditional lending fee structures and consumers ability to access capital where they couldn’t previously and creating a credit alternative that provides an alternative to traditional finance. Crowdfunding services are at the forefront and will continue to grow going forward. The World Bank projects that by 2025 the global crowdfunding market could reach $96 billion. IdentityMind is a sought after partner because it plays a recognized strategic role in crowdfunding by adding transparency, legitimacy and compliance to the process.”
Initial Coin Offerings (ICOs) have grown exponentially with nearly $6 billion raised in 2017, and $6.3 billion in Q1 of 2018. IdentityMind has worked with over 78 ICO clients in 20 countries across a variety of markets including lending, digital currency, retail, healthcare, payments, and more, evaluating more than 425,000 users, in nearly 80 countries who contributed over a billion dollars. Representative IdentityMind clients include Airtoken, BurstIQ, CRYPTO20, DataBroker DAO, Dragon Corporation, Fluz Fluz, Liquineq, Sparkle Coin, and others.
IdentityMind was recently named the recipient of two top industry awards: CIO Review’s 50 Most Promising FinTech Solution Providers and Disruptor Daily’s 10 RegTech Companies Making Waves in the Industry.
- Guide: Effective KYC in Digital Environments
- Guide: Forrester Report: AML Vendor Landscape
- Video: IdentityMind Platform Introduction Video
- White Paper: KYC Fundamentals Guide
About RCN Network
RCN is a global peer-to-peer credit network powered by smart contracts, connecting borrowers and lenders around the world to exchange any currency they want. By reducing the brokerage costs and management fees associated with traditional methods, RCN enables more favorable conditions for everyone involved. RCN leads the way in the democratization of credit through blockchain technology. For more information visit, RCN on Web, Facebook, Telegram, Twitter and Reddit.
About IdentityMind Global
IdentityMind Global, Digital Identities You Can Trust, provides a SaaS platform that builds, maintains and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud. Built-in transaction monitoring enables e-commerce fraud prevention, anti-money laundering (AML), and counter terrorism financing (CTF). Our patented eDNA™ technology securely tracks the entities involved in each transaction (e.g. onboarding, account origination, money transfers, online payments, etc.) to build unique digital identity trust reputations. This reputation is anonymously shared between customers in IdentityMind’s Global Identity Network. For more information, visit IdentityMind on Web, Twitter, LinkedIn, Facebook, Blog, and Google+.
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Director of Corporate Communications
Email: [email protected]