Passionate About Making the Financial Economy Accessible, Safe and Equitable.
Anti-money laundering (AML) and know your customer (KYC) practices have a strong potential for being adapted to the blockchain. Currently, financial institutions must perform a labor intensive multi-step process for each new customer. KYC costs could be reduced through cross-institution client verification, and at the same time increase monitoring and analysis effectiveness.
2Pay has an AML/KYC solution that involves analyzing transactions. Those transactions identified as being suspicious are forwarded on to compliance officers using AI.