ComplyAdvantage, a global data technology company transforming financial crime detection announced that Gemini, a crypto exchange and custodian selected ComplyAdvantage’s hyperscale platform for anti-money laundering risk management.
Compliance teams around the world need access to intelligent technologies that can uncover risk in real-time and decrease operational costs so their companies can transact with trust and grow with confidence. With the accelerated adoption of cryptocurrency and digital assets, Gemini wanted a solution that could continue to scale with its rapid growth.
Customisable solution
“We selected ComplyAdvantage because of the company’s agile approach to financial crime risk management,” said Elena Hughes, Chief Compliance Officer at Gemini.
“ComplyAdvantage’s hyper-scalable model, customisable screening solution, and collaborative approach to Gemini’s model were critical to meeting our compliance needs.”
Risk monitoring and real-time analysis
Leveraging its proprietary data asset and advanced machine learning, ComplyAdvantage helps to detect sanctions and adverse events while uncovering hidden risks during customer onboarding and throughout the client lifecycle, automating AML risk monitoring to help companies like Gemini maintain the highest level of compliance oversight and integrity.
"Gemini is a great example of a market leader implementing the best in compliance practices to support the company’s customer on-boarding,” said Charles Delingpole, founder and CEO ComplyAdvantage. “Now, Gemini can scale with our real-time, high-quality sanctions, PEPs, and adverse media solutions, allowing them to make more informed decisions on their customers relative to their risk-based approach.”
Prevents financial crimes
Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth fintech, ComplyAdvantage uses machine learning to help regulated organizations manage their risk obligations and prevent financial crime.
The company’s proprietary database is derived from millions of data points that provide dynamic, real-time insights across sanctions, watchlists, politically exposed persons, and negative news. This reduces dependence on manual review processes and legacy databases by up to 80% and improves how companies screen and monitor clients and transactions.
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