Last Updated on: 22nd November 2023, 02:06 pm
RiskScreen, a recognized provider of AML (Anti-Money Laundering) and KYC (Know Your Customer) solutions, has revealed a groundbreaking partnership with CoinPayments, a global leader in digital payments. Their objective is to transform merchant onboarding processes and regulatory compliance within the cryptocurrency payment industry.
CoinPayments has been experiencing rapid growth but also encountered significant challenges, particularly in the complex task of onboarding merchants while maintaining stringent compliance standards. Handling approximately 1,000 onboarding requests each month posed threats to operational efficiency and regulatory adherence.
To address these challenges, CoinPayments has chosen to implement RiskScreen’s innovative solution to streamline the client onboarding process.
RiskScreen was selected for its cost-effectiveness, user-friendly interface, global data access, comprehensive data presentation, regulatory compliance capabilities, central case management, and esteemed industry reputation. CoinPayments anticipates that RiskScreen’s platform will provide long-term benefits for the organization in terms of compliance and efficiency.
Gintaras Zuikis, MLRO (Money Laundering Reporting Officer) at CoinPayments, expressed his satisfaction with the partnership:
“We are extremely satisfied with RiskScreen’s platform. It has significantly transformed our merchant onboarding processes and compliance efforts. The user-friendly interface, comprehensive information access and efficient case management tools have made a remarkable difference. RiskScreen’s platform stands out as one of the best in the market, enabling us to enhance our operational efficiency and regulatory compliance. We highly recommend RiskScreen to organisations.”
Stephen Platt, CEO of RiskScreen, also commented on the collaboration:
“We are thrilled to join forces with CoinPayments to help them achieve their onboarding goals. What differentiates RiskScreen from all other RegTech businesses is our approach to using compliance as a competitive advantage for our customers. CoinPayments’ drive to growth through innovation allies with our efforts as we continue our mission to provide award-winning customer on-boarding, screening and pKYC solutions.”
This partnership between CoinPayments and RiskScreen sets a precedent for the industry, showcasing how innovation and collaboration can redefine the future of digital payments. With CoinPayments leading the way and RiskScreen providing cutting-edge solutions, the possibilities for the cryptocurrency payment industry are limitless.