Acuant partners with Chainalysis to strengthen regulatory compliance.
Acuant, a reliable name in identity platform for fraud prevention and AML compliance, on May 11, 2021, revealed news about its partnership with Chainalysis, the blockchain analysis company.
The purpose of the partnership between the two entities is focused on helping financial institutions and cryptocurrency businesses evaluate risk, safeguard against illegal transactions, automate workflows, and protect their reputation by delivering superior Anti-Money Laundering (AML) solutions.
Impact of partnership
Post the collaboration, customers of Acuant and Chainalysis have the liberty to make most of both platforms by using Acuant’s interface to manage transactions that indicate higher risk easily.
Additionally, they can also access Chainalysis Know Your Transactions (KYT) and their graphical investigative software called Chainalysis Reactor, which can be deployed to follow the flow of funds across the blockchain for deeper investigations.
The combination of Reactor and KYT bolsters Acuant Compliance native cryptocurrency support with Chainalysis investigative interface.
Acuant compliance currently delivers all-inclusive AML solutions to over 50 crypto exchanges and blockchain businesses across the world.
Its native support for cryptocurrencies is integrated Know Your Customer (KYC), sanctions and PEP screening, transaction monitoring for fraud prevention and suspicious activity detection, case management, and multijurisdictional regulatory filing protects millions of cryptocurrency transactions worldwide.
What do experts say?
Jordan Bregman, Director of Business Development at Chainalysis, said, “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.”
He added, “Our partnership with Acuant brings us closer to this goal, and we’re excited to see our progress within the next few years.”
Jose Caldera, Chief Product Officer at Acuant, said, “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.”
He added, “We look forward to working with Chainalysis to strengthen our platform and to continue to be a leading solutions provider in the crypto space.”