B2Broker selects SaaS-based IdentityMind for KYC and AML compliance

B2Broker expands liquidity, adds 61 crypto CFD pairs

IdentityMind, Digital Identities You Can Trust, has just announced that B2Broker, a provider of liquidity and technology solutions for the foreign exchange and cryptocurrency markets, has selected IdentityMind to meet its know your customer (KYC) and anti-money laundering (AML) compliance requirements for itself and its global business-to-business (B2B) clients.

Evgeniya Mykulyak

Evgeniya Mykulyak

In our line of business, KYC and AML is of paramount importance,” said Evgeniya Mykulyak, COO, B2Broker. “Our business, as well as that of our clients, depends on watertight procedures to carry out all the necessary client checks and to ensure that we are fully compliant in accordance with regulations in different global markets. We felt IdentityMind offered the best KYC and AML compliance solutions available with its automated customer onboarding process and global online identity verification service which matched our rigid requirements.

According to Mykulyak, B2Broker needed a full proof way to perform KYC and AML compliance requirements as well as identity proofing, risk-based authentication, regulatory compliance, and the prevention of identity fraud.

We use IdentityMind both for ourselves as B2Broker and also offer it to our B2B clients for KYC and AML in order to help with the process of verifying the identity of their clients and the assessment of potential risks of illegal intentions such as money laundering,” continued Mykulyak. “Industry regulations are tougher than ever and in order to be compliant, and protect all parties involved, KYC and AML are a necessity. We have integrated all our services through IdentityMind’s standards-based API and use it on all of our offerings.

IdentityMind’s Version 2.0, SaaS-based, Trusted Digital Identities platform for risk and compliance represents the culmination of years of research in digital identities, machine learning, anomaly detection, regulatory compliance, product development, and close consultation with IdentityMind clients. It enables clients’ compliance and risk analysts to take a risk-based approach based on understanding the user behind the transaction.

IdentityMind is the go-to partner for virtual currency exchanges, payment service providers, payment processors, money transmitters, money service businesses, retailers, businesses performing initial coin offerings (ICOs) or security token offerings (STOs), e-banks, banks, broker/dealers and credit unions around the world. Today, IdentityMind is working with over 50 virtual currency exchanges and over 10% (almost 250) of all companies worldwide conducting a compliant ICO or STO.

Jose Caldera, Chief Products and Marketing Officer, IdentityMind

Jose Caldera, Chief Products and Marketing Officer, IdentityMind

We’re excited to work with B2Broker by helping them keep compliant in all the global markets they serve,” commented Jose Caldera, Chief Products and Marketing Officer, IdentityMind. “IdentityMind is intimately aware of the constantly-changing regulatory environment and assists its clients in ensuring they are compliant. By doing so, we also help them protect their brand and scale their businesses.

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