Global crypto asset provider.
A leading international crypto service provider, focused on institutional crypto trading, faced significant compliance challenges as their client base and operational scope expanded. The company needed to automate and streamline their compliance processes to align with new regulatory requirements, particularly with the upcoming MiCA regulations.
With a growing number of international partners and customers, the company struggled with manual compliance procedures and the inability to effectively document their due diligence processes. Their previous systems lacked a defensible audit trail and did not leverage advanced technologies like machine learning to filter out false positives and redundant alerts, leading to inefficiencies and increased compliance risks.
The firm implemented MCO's Know Your Third-Party (KYTP) solution to provide systematic screening and management of customer relationship risk. With MyComplianceOffice and KYTP, the firm has a single platform to conduct third-party risk assessment and classification, KYC onboarding, ongoing due diligence and screening. Benefits the firm has achieved include:
Preparing for Markets in Crypto-Assets Regulation (MiCA)
Learn about MCO's Know Your Third Party Solution
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