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iComply MasterClass: Compliance in the Decentralized Financial Markets

iComply MasterClass: Compliance in the Decentralized Financial Markets

by | Jul 26, 2018 | Blog, Crypto, Events, iComply Insights, Prefacto, Web3

In this upcoming MasterClass, Greg Pinn, Head of Product Strategy for iComply and Former Head of World-Check for Thomson-Reuters, speaks on the role of compliance in the decentralized financial markets. He’ll walk through its best practices and the different approaches related to jurisdiction-based compliance.

Save Your Spot: Registration Limited to the First 500 Registrants
August 7: 10:00 AM – 11:00 AM PDT / 1:00 PM – 2:00 PM EDT
August 9: 2:00 PM – 3:00 PM PDT / 5:00 PM – 6:00 PM EDT

Register Now
Key Learnings:
In this MasterClass, Greg breaks down why compliance matters and how the global market is in need of jurisdiction-based compliance for cryptocurrencies and tokenized assets in both centralized and decentralized models. Compliance is not a new need but a pressing one – events such as the 1993 World Trade Center bombing and the more recent, Russian Laundromat scheme are prime examples of why the need for compliance and anti-money laundering (AML) procedures exist.

Who is this MasterClass for?

  • ICO Issuers
  • Decentralized Exchanges
  • Compliance Leaders
  • ICO Consultants
Register Now
While many argue that regulation stifles innovation, Greg explains that compliance actually enables innovation by protecting individuals that choose to participate in emerging industries. This is not only good from a moral and ethical standpoint but also from a material one. The emerging crypto market has faced an abundance of scrutiny under the public eye due to the emergence of a handful of bad actors; however, this does not paint a complete picture. There must be a balance between the free movement of value and protection of all individuals.

The “fundamentals” of compliance and how they are impacted by jurisdiction: This portion of the webinar will introduce new investors to compliance. This consists of concepts such as anti-money laundering (AML), Know Your Customer (KYC), Countering the Financing of Terrorism (CFT), Enhanced Due Diligence (EDD), Ultimate Beneficial Ownership (UBO) and Politically Exposed Persons (PEPs). These concepts are of major importance in both the traditional and decentralized financial markets and their implications can vary widely by jurisdiction.

The future of compliance: The final portion of the webinar will touch on the future of compliance, Greg considers the industry to be in a “renaissance” period. Costs associated with compliance for financial institutions are high and run parallel to the cost of employee turnover. Constant training and retraining are costly and inefficient. Thus, Greg predicts that the future of compliance is shifting to focus on decreasing the human costs associated with processes by enhancing these processes with technology such as artificial intelligence, machine learning, and automation.

About Greg Pinn
Greg Pinn has a decade of experience leading global best practices in anti-money laundering (AML) and know-your-customer (KYC) industry. Greg currently serves as head of product strategy for iComply and previously ran strategy for World-Check, the world leader in risk-based intelligence data.

Register Now

Looking for financial grade KYC and AML in an enterprise ready API?

iComply offers global screening for humans, corporations, and blockchain transactions in a single REST API.

Book a demo with one of our specialists to learn more.

About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com

Payments
Payments

Apr 8, 2022

Robust AML/CFT screening and monitoring for any type of payment, easily customizable to fit your back-end workflows.

Benzinga – iComply A Top RegTech Solution

Benzinga – iComply A Top RegTech Solution

by | May 21, 2018 | Blog, Events, In The News, Prefacto, Press Releases, Web3

Benzinga – iComply A Top RegTech Solution

iComply was named a top RegTech solution by Benzinga Global FinTech Awards. The award was announced on May 16 in New York City during the peak of the “NYC Blockchain Week”.

The Benzinga FinTech Awards celebrates leading innovations in Fintech and RegTech across the world. It recognizes winners in a variety of categories including “Best Alternative Investments Platform,” “Best Customer Engagement Tool,” “Best Insuretech Solution” and more.

“We are excited to receive this recognition from Benzinga as an industry leading RegTech company, beating much more established KYC providers such as Jumio, BigID, and Trulioo. While these companies have been in the market much longer, our iComplyKYC product is focused directly on the specific risks associated with cryptocurrency transactions. In only a few short months since our product release, iComplyKYC is recognized as the industry best practice for cryptocurrency exchanges, token launch platforms, and leading securities law firms and risk advisors around the world.” said Matthew Unger, CEO of iComply Investor Services.

At present, iComplyKYC is available as a private white label solution and is currently being used by a number of FinTech platforms, initial coin offerings, licensed Canadian and U.S.broker-dealer and portfolio management firms, cryptocurrency exchanges, and capital markets advisory firms. The company is continuously enhancing the solution with additional layers of verification being released, including:

  • Accredited Investor Verification
  • Global Business Verification
  • Legal Entity Identification
  • Anti-Money Laundering
  • Sanctions & Watchlist Screening
  • Machine Vision Liveness Detection
  • Cryptocurrency Wallet Risk Monitoring
  • Blockchain Forensics
  • Credit Bureau Verification
  • Wallet Ownership Verification.

We see the iComplyKYC product as critical infrastructure to enable institutional investment to access digital finance.

“When we entered the market with our first product – a regulatory service for blockchains that uses Prefacto technology to apply real-time compliance and governance procedures for the offering and secondary trading of tokenized assets – we discovered that many of the KYC and digital identity providers were too expensive and most are barely more than a camera phone app with a dashboard on the back end. Right now, if an token issuer or cryptocurrency exchange were to be audited by Fintrac, Fincen, European Commission or OFSE they would have a harsh awakening when they realize that the term “KYC” is not standardized across the industry – many of the largest providers do no OFAC screening, most only call a single national PEP list for the USA, and none offer comprehensive risk reporting on cryptocurrency wallets or source of funds. We saw this gap as an opportunity to apply the best practices of traditional sanction screening, anti money laundering and anti-terrorist financing to the decentralized financial markets,” added Unger.

The team at iComply is pleased to receive this recognition and looks forward to continued success as we continue to grow our team, product and customer base.

Looking for an end-to-end token management studio?

iComply’s token compliance platform, Prefacto enables issuers to capture the value of blockchain asset management with multi-jurisdictional compliance automation for over 150 countries.

Book a demo with one of our specialists to learn more.

About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com

Payments
Payments

Apr 8, 2022

Robust AML/CFT screening and monitoring for any type of payment, easily customizable to fit your back-end workflows.

iComply Launches iComplyID, Blockchain Powered Portable Identity and KYC

iComply Launches iComplyID, Blockchain Powered Portable Identity and KYC

by | Mar 15, 2018 | Blog, Press Releases, Product Updates, Web3

iComply Launches iComplyID, Blockchain Powered Portable Identity and KYC

iComplyID is a zero-knowledge proof, legal-entity identifier.

Vancouver, B.C. – iComply (iComply Investor Services Inc.) is announcing the launch of iComplyID, which acts as a portable KYC (“know your customer”) solution for digital identity management in financial services and government applications. iComplyID significantly enhances cybersecurity and privacy for individuals while reducing the costs of compliance with anti-money laundering (AML), anti-terrorist financing (ATF) regulations, and national identity programs.

iComply is a RegTech software company focused on creating enterprise solutions that reduce the burden of financial, regulatory, and compliance requirements by synchronizing country by country legislation. Last month, the company released the world’s first automated compliance protocol, “Prefacto,” for securities regulation to enable token issuers, security token platforms, licensed stock exchanges and investors to launch and trade blockchain coins or smart contract tokens in compliance with global securities, identity, and privacy regulations.

“Our focus is to demonstrate how, when used appropriately, tools like blockchain, machine learning, and biometrics can serve to enhance integrity, transparency and security in capital markets. We are empowering organizations and individuals by enabling them to utilize the internet of value safely,” said Matthew Unger, CEO and Founder of iComply.

Recently, the banking industry has seen the trend of ‘platformization,’ where financial institutions move away from proprietary legacy solutions and have started to embrace shared resources.

ATMs for example, are owned by individual banks, but rely on administrative entities like VISA to manage inter-bank processes. Conversely, blockchain enables the decentralization of data for frictionless cooperation between entities in a network without intermediaries.

Recently, the Bank of Canada and the Monetary Authority of Singapore announced a program to leverage blockchain for interbank settlement and reconciliation. This reduces the time and cost of these processes, which is one of the features driving the increasing popularity of platforms and decentralized infrastructure.

Trust in intermediary organizations has faltered in recent years, with the Equifax security breach leaving the personal data of 143 million customers vulnerable.

“2017 was the year of the ICO with over 1,200 issued from Canada and the USA alone, and nearly 260 out of Singapore. Issuers in 2018 are taking a new approach, abandoning the fast and loose SAFT offerings to set up compliant securities offerings that simply happen to use blockchain to manage their holders of record. and even working with regulators preemptively. To scale globally, financial institutions need a secure, scalable, and compliant solution to manage investor identity verification, know your client, anti-money laundering, and real time source of funds monitoring. iComplyID is the only turnkey ID/KYC solution in the world that meets these requirements while protecting the privacy and consent of the user.” added Unger.

Looking for financial grade KYC and AML in an enterprise ready API?

iComply offers global screening for humans, corporations, and blockchain transactions in a single REST API.

Book a demo with one of our specialists to learn more.

About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com

Payments
Payments

Apr 8, 2022

Robust AML/CFT screening and monitoring for any type of payment, easily customizable to fit your back-end workflows.

Top 3 Blockchain Startups to Watch in 2018 – Bitcoin Market Journal

Top 3 Blockchain Startups to Watch in 2018 – Bitcoin Market Journal

by | Jan 12, 2018 | Blog, Events, In The News, Prefacto, Web3

Top 3 Blockchain Startups to Watch in 2018 – Bitcoin Market Journal

iComplyICO was featured today in Bitcoin Market Journal for our work in regulatory compliance, with CEO Matthew Unger stating that, unlike many ICO issuers in 2017, issuers in 2018 will be focused on prioritizing regulation, compliance and due diligence.

Top 3 ICOs for 2018 – Bitcoin Market Journal
Author: Charles Bovaird
ICOs were all the rage in 2017, generating major headlines by pulling in millions of dollars’ worth of investor funds. While this might be great for the founders, the more important matter may be… Read the full article here.

Looking for an end-to-end token management studio?

iComply’s token compliance platform, Prefacto enables issuers to capture the value of blockchain asset management with multi-jurisdictional compliance automation for over 150 countries.

Book a demo with one of our specialists to learn more.

About iComply Investor Services Inc.
iComply Investor Services Inc. (iComply) is an award-winning software company focused on reducing regulatory friction in the capital markets. With powerful data, verification, tokenization solutions, iComply helps companies overcome the cost and complexity of multi-jurisdictional compliance to effectively access new markets. Learn more: iComplyIS.com

Payments
Payments

Apr 8, 2022

Robust AML/CFT screening and monitoring for any type of payment, easily customizable to fit your back-end workflows.

iComply Signs First Tokenized Real Estate Offering

iComply Signs First Tokenized Real Estate Offering

by | Sep 19, 2017 | Blog, Crypto, In The News, Prefacto, Press Releases, Web3

iComply Signs First Tokenized Real Estate Offering

iComply ICO Signs First Licensing Deal for Real Estate ICOs
Canadian entrepreneur secures license to access ICO securities compliance platform

Vancouver, B.C. – iComply ICO (iComply Investor Services Inc.) a regulatory technology platform that automates the legal procedures for initial coin offerings (ICOs) is today announcing the signing of its first licensing deal with Canadian real estate developer, Francis Penner.

Recently, Penner was behind a multi-building redevelopment in Winnipeg’s Exchange District, now home to the $95M Canadian Innovation Center built by Red River College.

“I believe that this platform promises to release a synergy between real estate development and a new financial vehicle. I plan to use this new financial instrument to expand my real estate initiatives.” Said Penner.

“We are developing the world’s first automated compliance platform for regulated securities, by focusing on the Canadian and U.S. markets first, we will have the highest standards of underwriting, investor protection, and ‘prefacto’ compliance in the world.  ” Said Matthew Unger, CEO of iComply ICO.

The iComply ICO team foresees much bigger opportunities to use ICOs for established companies, rather than just startups. Infrastructure projects and even governments will be able to raise money using encrypted digital share certificates on the iComply ICO platform.

New and existing ICOs are invited to apply for the platform’s public beta.

Investors have become increasingly interested in ICOs largely because of the liquidity of cryptocurrencies, which can be converted immediately into Bitcoin, Ether or government issued currencies using online services such as Coinsbank or Coinbase.

ICOs are outpacing traditional venture capital investments. According to a report by Goldman Sachs Global Investment Research, by June of 2017 ICO funding exceeded $550 million surpassing angel and seed VC funding.

This momentum came to a halt this July when the SEC ruled that initial coin offerings may be classified as securities and therefore subject to federal securities laws including investor disclosures, audited financial statements, and registration requirements. Where requirements are unmet, those taking part these transactions may be liable for violations of securities law.

Last week, Jamie Dimon, the CEO of JP Morgan Chase told attendees of the bank’s investors conference that, “The currency isn’t going to work. You can’t have a business where people can invent a currency out of thin air and think that people who are buying it are really smart.”

“In a sense, Jamie Dimon is right – many ICOs being issued today are fraudulent. What JP Morgan isn’t considering is that the ICO is an emerging financial instrument, not just a currency or asset class. What is wrong with ICOs today has nothing to do with Bitcoin or blockchain technology, it is that no mechanism for underwriting, due diligence and investor protection have existed – until now.” Added Unger.

“This project is another step in the further democratization from wall street to main street, and has the potential of matching capital to ideas in a extremely efficient manner that is both legal and compliance oriented. There is is a need for this because whenever you have profit potential and opportunities you also have potential for misconduct.” Said William Schumacher, a retired Citigroup executive.

Unger and his team foresee the platform being utilized by investors, existing ICOs, startups, and existing companies to raise capital with the support and due diligence of auditing, accounting, and legal firms.

About iComply ICO
iComply ICO (iComply Investor Services Inc.) is a regulatory technology (regtech) platform that automates compliance procedures for initial coin offerings (ICOs), enabling them to be securely utilized as efficient financial instruments. iComply ICO streamlines legal and accounting processes providing automated checks and balances throughout the issuance, purchase and resale of encrypted digital share certificates. Investors, accountants, lawyers, regulators, ICO issuers and marketing firms all benefit from an ecosystem that supports trust, democratization, decentralization and integrity. Learn more: iComplyICO.com

Media Contact
Brittany Whitmore
Phone: 1.778.238.6096
Email: [email protected]