CoinPayments and RiskScreen, an acclaimed provider of AML (Anti-Money Laundering) and KYC (Know Your Customer) solutions, have announced an innovative partnership. The collaboration aims to reshape the landscape of merchant onboarding and regulatory compliance within the cryptocurrency payment industry.
CoinPayments‘ meteoric rise has brought forth a unique set of challenges, particularly concerning the intricate process of onboarding merchants while upholding rigorous compliance standards. The company grappled with the daunting task of handling 1,000 monthly onboarding requests, a situation that posed a substantial threat to operational efficiency and regulatory adherence.
Recognising the need for a strategic overhaul, CoinPayments made a decisive choice to embrace RiskScreen’s cutting-edge solution, with the aim of optimising their client onboarding process.
The selection of RiskScreen was motivated by a myriad of compelling factors, including its cost-effectiveness, intuitive user interface, global data accessibility, comprehensive data presentation, unwavering commitment to regulatory compliance, centralised case management capabilities, and an impeccable reputation within the industry. CoinPayments envisions RiskScreen’s platform as an instrumental asset in addressing their long-term compliance and efficiency imperatives.
Gintaras Zuikis, MLRO at CoinPayments, expressed his enthusiasm with the partnership: “We are absolutely thrilled with the RiskScreen platform. It has transformed our merchant onboarding processes and compliance initiatives. The user-friendly interface, all-encompassing information accessibility, and streamlined case management tools have made a world of difference. RiskScreen’s platform unequivocally distinguishes itself as one of the premier offerings in the market, empowering us to bolster our operational efficiency and regulatory compliance.”
RiskScreen’s CEO, Stephen Platt, weighed in on the collaboration: “We are thrilled to join forces with CoinPayments in their pursuit of achieving their onboarding objectives. What sets RiskScreen apart from the rest of the RegTech landscape is our commitment to utilising compliance as a competitive edge for our clients. CoinPayments’ drive for growth through innovation aligns seamlessly with our mission of delivering award-winning customer onboarding, screening, and pKYC solutions.”
The alliance between CoinPayments and RiskScreen sets an industry precedent, offering a vivid illustration of how innovation and collaborative synergy can redefine the future trajectory of digital payments. With CoinPayments spearheading the charge and RiskScreen furnishing cutting-edge solutions, the horizons of the cryptocurrency payment sector are boundless.
Conclusively, RiskScreen has prepared a comprehensive case study to provide deeper insights into the transformative impact of this partnership, which can be accessed in its entirety here.
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