One of fintech companies’ major challenges is keeping up with complex and constantly-evolving regulatory regimes. In this update, we outline some of the most common compliance issues facing fintech companies of all sizes – and how they can be overcome using KYC-Chain.

As ICOs gain in popularity, financial authorities around the world are starting to pay greater attention to them, and seeking to subject them to the same regulatory scrutiny as securities. Using automated KYC technology such as KYC-Chain can allow companies launching ICOs to remain compliant in a cost and time-efficient way.

2021 is already producing some exciting new initiatives and projects in the RegTech and FinTech industries, and KYC-Chain is proud to continue contributing to innovation in the space with its new Risk Scoring Tool.

2020 ended on a high note, with some notable new partnerships, a private token sale to accredited investors, and KYC-Chain being selected for AB-InBev’s Emerging Startups 2021 Showcase.

KYC-Chain has been named the winner of the Best Digital Identity Solution category of the recent KMA and BIS Trade Finance Challenge. The challenge showcases new innovative technologies that are tackling the complex issues of compliance in trade finance, and we are proud to have our efforts recognized by this important initiative.

Recent upgrades to the KYC-Chain platform now allow companies to perform automated risk scoring and enhanced due diligence on customers to ensure compliance with global and national regulatory regimes.

As our customer base continues to expand, so do the ways in which the KYC-Chain platform is used. From Malaysia to Switzerland and a nascent republic in the heart of Europe – KYC-Chain is being used to streamline and improve a wide range of KYC processes for our growing family of customers.

Sometimes, it’s necessary to undertake more extensive ID verification (IDV) screening before onboarding potential customers. KYC-Chain’s Enhanced IDV provides the tools necessary for more sensitive and detailed checks.

As the global pandemic continues to affect economies and communities around the world, we take a look at some of the ways companies have been turning to digital KYC to alleviate some of the pressure.