Business Wire

ComplyAdvantage Partners with Elliptic for Blockchain Analysis and Transaction Monitoring

Share

ComplyAdvantage, a global data technology company transforming financial crime detection, and Elliptic, the global leader in cryptoasset risk management solutions, today announced a new blockchain analysis and transaction monitoring tool that will help crypto firms detect and avoid financial crime.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211025005582/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Charles Delingpole, CEO of ComplyAdvantage (Photo: Business Wire)

The industry-first solution is powered by Elliptic Navigator, a crypto anti-money laundering (AML) monitoring platform. It allows fast-growing crypto firms to undertake continual AML monitoring, fraud and sanctions strategies that will help the industry avoid customers and clients who present a risk of involvement in financial crime, including the financing of terrorism.

The partnership comes at a critical time for the industry, as the ability to monitor crypto transactions has become considerably more challenging with the introduction of new services such as NFTs (non fungible tokens), privacy wallets, and decentralized finance (DeFi) networks. In response, more regulations have been published by the FATF (Financial Action Task Force) and the European Commission to provide greater certainty for any crypto assets that are not covered by existing financial services legislation.

By combining the two worlds of fiat and crypto risk assessment by integrating Elliptic’s blockchain analytics into the ComplyAdvantage platform, users will be able to consolidate their risk management processes, deep dive into blockchain transaction history and risk scoring, and reduce the time and cost spent on integrating compliance workflows between fiat and crypto.

New capabilities within the ComplyAdvantage platform include:

Detect High-Risk Crypto Transactions — Speed up compliance checks, minimize manual intervention, and reduce costs with automated transaction risk scoring based on Elliptic’s blockchain analytics.

Identify High-Risk Customers — Monitor your customers’ crypto activity across all of their crypto transactions. Detect suspicious activity early, using sophisticated analytics and risk indicators from Elliptic’s dataset.

Trace Source and Destination Funds — Review where a transaction came from, or where it is being sent, by leveraging Elliptic Navigator’s blockchain tracing capabilities to determine the ultimate source or destination of funds.

Simplify SARS Submissions — Maintain a full audit trail of crypto transactions and export complete, accurate records to submit Suspicious Activity Reports (SARs) with ease.

“Empowering businesses with bank-grade payments risk solutions that integrate fiat and crypto capabilities is a critical step towards shaping a future of finance that includes virtual assets in a secure and trusted way,” said Simone Maini, CEO, Elliptic. “Our partnership with ComplyAdvantage is an exciting opportunity to develop robust solutions that provide businesses with deep insight into a broad range of cryptoassets.”

Elliptic Navigator is powered by Elliptic’s comprehensive data engine that has collected, labelled, analyzed, and risk scored blockchain data since as early as 2013. With 98% of daily crypto transactions monitored, the world’s largest crypto businesses and financial institutions such as Coinbase, Revolut, and Santander rely on Elliptic to understand and act on risk exposure to crypto by applying the highest levels of regulatory compliance rigour.

ComplyAdvantage’s unique hyperscale approach to risk management helps to detect transaction monitoring events while uncovering hidden risks throughout the customer lifecycle, helping fintechs like Paxos maintain the highest level of compliance oversight and integrity. This reduces dependence on manual review processes and legacy databases by up to 80% and improves how businesses like Paxos screen and monitor clients and transactions.

"By working with Elliptic we now offer a more comprehensive blockchain analysis transaction monitoring solution for our rapidly growing base of crypto customers,” said Charlie Delingpole, founder and CEO of ComplyAdvantage. “Data is key to preventing financial crime and our hyperscale approach to risk management is enhanced through valuable partners like Elliptic.”

Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth fintechs, ComplyAdvantage uses machine learning to help regulated organizations manage their risk obligations and prevent financial crime. ComplyAdvantage was recently named as one of the world's most innovative companies by Fintech Global.

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of AI-driven financial crime risk data and detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 700 enterprises in 69 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world's only global, real-time database of people and companies. The company actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day.

ComplyAdvantage has four global hubs located in New York, London, Singapore and Cluj-Napoca and is backed by Goldman Sachs, Ontario Teachers’, Index Ventures and Balderton Capital. Learn more at complyadvantage.com or follow us on Twitter or LinkedIn.

About Elliptic

Elliptic is the global leader in cryptoasset risk management for crypto businesses and financial institutions worldwide. Recognized as a WEF Technology Pioneerand backed by investors including Wells Fargo Strategic Capital, SBI Group, and Santander Innoventures, Elliptic has assessed risk on transactions worth several trillion dollars, uncovering activities related to money laundering, terrorist fundraising, fraud, and other financial crimes. Elliptic is headquartered in London with offices in New York, Singapore, and Tokyo. To learn more, visit www.elliptic.coand follow us on LinkedIn and Twitter.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

For ComplyAdvantage:
North America
Tim Donovan
+1.510.593.0064
Tim.Donovan@ComplyAdvantage.com

EMEA
Ben Goldsmith
+44.0.7788.295321
ben@goldsmithcomms.com

For Elliptic
press@elliptic.co

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Samsung Introduces Three New Logic Solutions to Power the Next Generation of Automobiles30.11.2021 11:00:00 CET | Press release

Samsung Electronics Co., Ltd., a world leader in advanced semiconductor technology, today introduced three of its latest automotive chip solutions; the Exynos Auto T5123 for 5G connectivity, the Exynos Auto V7 for comprehensive in-vehicle infotainment systems, and the ASIL-B certified S2VPS01 power management IC (PMIC) for the Auto V series. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005513/en/ Exynos Auto T5123, a 3GPP Release 15 telematics control unit for 5G connectivity solution for automobiles, Exynos Auto V7, a powerful processor for IVI systems in mid to high-end vehicles and S2VPS01, power management IC with ASIL-B certification for the Exynos Auto V series (Graphic: Business Wire) “Smarter and more connected automotive technologies for enriched in-vehicle experiences including entertainment, safety and comfort are becoming critical features on the road,” said Jaehong Park, Executive Vice President of Syste

Soveren Lands Star-Studded $6.5M Seed Round, Including 11 Unicorn Founders, to Fight Privacy Incidents30.11.2021 09:00:00 CET | Press release

Today Soveren announced a $6.5M seed round, led by firstminute capital and joined by Northzone, 11 unicorn founders,and a group of global CEOs. The founders of Airbnb, Datadog, MuleSoft, Snyk, and Color invested alongside Sir Richard Branson’s family, the Chairman CEO of Palo Alto Networks, and others. “Soveren is addressing one of the key technology challenges of the decade: privacy and compliance for Engineering teams. Their product provides CTOs, CISOs, and Privacy Engineers with easy-to-use tools to detect and address privacy gaps. The calibre of their seed round speaks to the pedigree of founders, and to the size of the task ahead,” said Spencer Crawley, Co-Founding General Partner of firstminute capital. Holly Branson, Virgin’s Chief Purpose and Vision Officer said: “At Virgin, our customers mean everything to us and treating them with respect and with world class service is at the core of the entire Virgin ethos. The way we handle their personal information is an important exten

Partech Announces the Closing of Its Second Growth Fund, Partech Growth II, at $750M.30.11.2021 09:00:00 CET | Press release

Partech, the global technology investment firm has announced the closing of Partech Growth II, at €650M (c.$750M) in commitments, significantly above Partech Growth I, raised in 2015 at €400M. The fund, closed above its target size, has seen staunch support from 45+ institutional investors, endowments & foundations, pension funds, life insurers, asset managers and fund-of-funds, and 40+ prominent family offices, entrepreneurs, and business angels, from 10 countries in Europe, North America, and Asia, despite being a mostly remote fundraise due to the pandemic. The fresh capital has already been put to work in five companies in the Czech Republic, France, the Netherlands and Sweden. They include Rohlik - the Prague-based online grocer with full end-to-end operations including procurement, fulfilment, and last mile delivery; Paris-based Skello – the online scheduling and personnel management SaaS tool; Paris-based Rouje – the ultimate French digital native brand of women’s fashion; the A

VicTrack wins Aussie Broadband wholesale deal with ADVA FSP 300030.11.2021 09:00:00 CET | Press release

ADVA (FSE: ADV) today announced that VicTrack is leveraging its state-wide optical transport infrastructure built on ADVA FSP 3000 technology to provide Aussie Broadband with carrier-grade wholesale services. The flexible and fully redundant ROADM network enables VicTrack to easily share capacity. With ADVA’s open optical transport system, it provides VicTrack’s customers with unregenerated optical services between the furthest parts of the state, giving Aussie Broadband access to highly reliable connectivity throughout regional and metro Victoria. Designed for high-capacity and easy scalability, VicTrack’s infrastructure offers unique opportunities for communication service providers (CSPs) to reach new customers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211130005076/en/ ADVA’s open optical technology is helping VicTrack to easily roll out wholesale services. (Photo: Business Wire) “Enabling Aussie Broadband to connec

DE-CIX Expands to the Nordics in Cooperation With Bulk Data Centers30.11.2021 08:05:00 CET | Press release

DE-CIX, the world’s leading Internet Exchange (IX) operator and home to the largest carrier and data center neutral interconnection ecosystem globally, today announces its expansion to the Nordic region. DE-CIX has partnered with Bulk Data Centers, which will house DE-CIX IX platforms in Oslo, Norway (OS-IX), Kristiansand, Norway (Campus N01), as well as in Esbjerg, Denmark (Campus DK01). DE-CIX will also be opening IX platforms in Finland. DE-CIX’s expansion into the Nordic region will open the Nordics to international customers, providing 100 percent green-powered Internet Exchanges through Bulk’s data centers. In addition, local Nordic customers will now get faster and more efficient access to global internet exchange services. “The Nordic region comprises some of the world’s most highly developed digital markets,” says Ivo Ivanov, CEO of DE-CIX International, on the company’s expansion to Northern Europe. “However, the interconnection infrastructure available in the region does not

DE-CIX Expands to the Nordics: New Internet Exchanges for Norway, Denmark, and Finland30.11.2021 08:02:00 CET | Press release

DE-CIX, the world’s leading Internet Exchange (IX) operator and home to the largest carrier and data center neutral interconnection ecosystem globally, today announces its expansion to the Nordic region. DE-CIX will be opening IX platforms in Norway, Denmark, and Finland. “The Nordic region comprises some of the world’s most highly developed digital markets,” says Ivo Ivanov, CEO of DE-CIX International, on the company’s expansion to Northern Europe. “However, the interconnection infrastructure available in the region does not match the digital maturity of the economy in the Nordics. The region has seen significant growth in data center investments for the concentration of hosting, storage and cloud deployments, and a high concentration of enterprises and manufacturing presence. It is important for the related interconnection infrastructure to get closer to these investments, to serve the connectivity demands. DE-CIX has seen strong support from the Nordic data center community for our

Kyoto Semiconductor Announces KP-M Monitor Photodiode "KPDE008LS-A-RA-HQ"30.11.2021 08:00:00 CET | Press release

Kyoto Semiconductor Co., Ltd. (President and CEO Tsuneo Takahashi, Head office: Fushimi-ku, Kyoto city), a leading optical device solution manufacturer with world-class technologies and Japanese quality, has announced the new KP-M monitor photodiode, KPDE008LS-A-RA-HQ. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211129005809/en/ Kyoto Semiconductor KP-M Monitor Photodiode KPDE008LS-A-RA-HQ (Photo: Business Wire) KP-M monitor photodiodes are used to monitor the laser output of optical communication equipment. Higher quality devices are required as the expansion of digital transformation and 5G communications progresses. The "KPDE008LS-A-RA-HQ" has achieved higher quality by adding the probing process at higher temperature. A new wafer prober*1 has been introduced to inspect the electrical characteristics of semiconductor wafers while heated to high temperatures. This allows the inspection to test the temperature (T=75℃) cl

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom