LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) — Acuant, the global trusted identity platform for fraud prevention and AML compliance, today announced its partnership with Chainalysis, the blockchain analysis company, to help financial institutions and cryptocurrency businesses assess risk, automate workflows, safeguard against illicit transactions and protect their reputations with superior Anti-Money Laundering (AML) solutions.
Acuant and Chainalysis customers will now be able to leverage both platforms via the Acuant interface to seamlessly manage transactions that are indicative of higher risk. They will have access to Chainalysis Know Your Transactions (KYT) as well as their graphical investigative software, Chainalysis Reactor, which can be used to follow the flow of funds across the blockchain for deeper investigations. The integration of Reactor and KYT strengthens Acuant Compliance native cryptocurrency support with Chainalysis investigative interface.
“We at Chainalysis believe cryptocurrency has the potential to boost the global economy, making a more equitable, fair and accessible financial infrastructure. In order to realize this vision, we need to establish greater trust and transparency,” said Jordan Bregman, Director of Business Development at Chainalysis. “Our partnership with Acuant brings us closer to this goal and we’re excited to see our progress within the next few years.”
Acuant Compliance currently provides comprehensive AML solutions to more than 50 crypto exchanges and blockchain businesses worldwide. Its native support for cryptocurrencies along with integrated Know Your Customer (KYC), transaction monitoring for fraud prevention and suspicious activity detection, sanctions and PEP screening, case management and multijurisdictional regulatory filing protects millions of cryptocurrency transactions worldwide.
“Our partnership with Chainalysis will further augment our support to the cryptocurrency industry. This partnership is bringing together and integrating the top Anti-Money Laundering solutions in the marketplace today,” said Jose Caldera, Chief Product Officer at Acuant. “We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.”
Chainalysis KYT helps financial institutions and cryptocurrency businesses monitor large volumes of cryptocurrency activity and identify high-risk transactions on a continuous basis. The Chainalysis KYT and Acuant integration combines a comprehensive dataset of thousands of services with solutions that make it easy to review both fiat and cryptocurrency transactions, detect suspicious activity, manage investigations, and file suspicious activity reports (SARs). Real time alerts on the highest-risk activity allow compliance teams to focus on the most urgent activity and fulfill regulatory obligations to report suspicious transactions.
Acuant’s Trusted Identity Platform is at the forefront of enabling businesses and governments to transact with trust in an ever-increasing digital world, facilitating the creation, ownership and ability to verify your identity and making that accessible to the entire global population. With industry leading identity verification, regulatory compliance (AML/KYC) and digital identity solutions powered by AI and human assisted machine learning, Acuant delivers unparalleled results and operational efficiency. Omnichannel deployment delivers seamless customer experiences to fight fraud, increase conversions and establish trust in seconds from anywhere in the world. Completing more than 1.5 billion transactions in over 200 countries and territories, Acuant powers trust in every major industry.
Chainalysis is the blockchain analysis company. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data platform powers investigation, compliance, and risk management tools that have been used to solve some of the world’s most high-profile cybercriminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Ribbit, and other leading names in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk.
A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0cc2f7d8-9bc3-4ddb-9e1e-a5e9523abc4b
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/dc47955d-c7d2-48ba-9961-a9e437c3572e