News & Events
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
The Financial Action Task Force (FATF) first began weighing in on Cryptocurrency and Virtual Assets in June, 2014. In 2015 the FATF’s guidance was focused on the interfaces between fiat currency and virtual currency. Since that time, the FATF and its 39 member...
On May 9th, 2019, FinCEN released interpretive guidance on how existing regulations impact cryptocurrencies, which are referred to as Convertible Virtual Currencies. While the “guidance does not establish any new regulatory expectations or requirements,” it does...
During May 6-10, 2019, the FATF (Financial Action Task Force) held a private sector consultation on new AML policies related to "virtual assets" and "virtual asset service providers." Representatives including regulators, financial intelligence units, financial...