iComply Wins Top Enterprise Blockchain Solution
May 29, 2018
Vienna, Austria – iComply Investor Services (iComply), a Canadian RegTech company offering powerful data, verification, and tokenization solutions for multi-jurisdictional digital finance, is announcing that the company was named the top blockchain solution at GovTech.Pioneers.
GovTech.Pioneers is Europe’s leading event for politicians, public CIOs and other leaders of the $400 billion GovTech market. Of the over 350 startups from 65 countries and four continents that entered the competition, iComply was named the top blockchain solution.
“We are excited to receive this recognition from GovTech.Pioneers, it has helped us engage leading European states to demonstrate how decentralization can enable a more efficient market with higher standards of investor protection – even compared to traditional capital markets. The cryptocurrency, security token, and traditional global capital markets have become rife with scams and misinformation, our solutions are built to help regulators and investors separate the good from the rest.” said Matthew Unger, CEO of iComply Investor Services.
iComply’s first product, Prefacto™ enables companies to apply real-time compliance and governance to the secondary trading of tokens on open public ledgers such as Ethereum.
“With Prefacto™, non-compliant trades can be denied or escalated to the issuer’s compliance team for manual review. This helps issuers make sound decisions based on quantified AML, risk, compliance, and governance standards. Once a trade is approved or rejected the issuer can be completely transparent with their regulator using the Compliance Ledger™,” added Unger.
The company offers a broad enterprise suite of compliance solutions for digital finance and is focused on bridging the gap between traditional finance and cryptocurrency markets by improving record keeping, transparency, and reporting capabilities. The term “KYC” is not standardized among service providers and with some of the top fintech platforms on the market using solutions that can’t meet the requirements set by financial oversight agencies such as Fintrac, Fincen, European Commission or OFSE.
Currently, iComply is the only compliance provider in the cryptocurrency market that offers both sanction limitations to token trading and comprehensive risk reporting on cryptocurrency wallets and source of funds.
iComply identified this gap as an opportunity to use blockchain technology to enhance the best practices of traditional sanction screening, anti-money laundering and anti-terrorist financing for the decentralized financial markets.
Since the company’s first product release was announced by Bloomberg Law in February, iComply was joined by senior compliance and regulatory officials to the team including Jeff Bandman and Manny Alicandro.
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
Future KYC Technology Trends: Emerging technologies and trends in the KYC space.
As regulations tighten and security threats evolve, the technologies driving Know Your Customer (KYC) processes are advancing rapidly. For compliance professionals, staying ahead means leveraging innovations that enhance efficiency, security, and the customer...
The Power of AML Monitoring Tools: Strengthening Compliance and Security
In the high-stakes world of finance, the battle against money laundering and financial crimes is relentless. For businesses, the threat of illicit activities isn't just a regulatory concern—it's a significant risk to their reputation and bottom line. Anti-Money...
Top 10 Features of Effective AML Compliance Software: An Expanded Guide
In today's digital age, the threat of money laundering and financial crimes is more significant than ever. Financial institutions and businesses must be equipped with robust Anti-Money Laundering (AML) compliance software to detect and prevent illicit activities. But...
