IdentityMindGlobal—a SaaS platform provider that builds, maintains and analyzes digital identities worldwide—announced the launch of a new business unit specifically dedicated to providing know your customer (KYC) and anti-money laundering (AML) solutions to address the regulatory and compliance requirements of the rapidly growing Initial Coin Offering (ICO) and cryptocurrency markets.
“Market momentum for ICOs and cryptocurrencies is strong, and we recognize that IdentityMind can deliver an even higher quality of sales, servic,e and support by creating a dedicated business unit,” said IdentityMind CEO Garrett Gafke. “IdentityMind has proven itself to be the ‘go to’ partner for digital currency exchanges and companies initiating ICOs. Companies recognize that no one understands the evolving global regulatory climate for ICOs and cryptocurrencies better than IdentityMind.”
To help further meet the needs of the ICO market, IdentityMind recently announced its KYC Plug-in for ICO product, a turnkey SaaS solution that enables KYC and AML checks on prospective ICO participants. According to Gafke, the funding of ideas is increasingly adopting ICOs as an alternative to traditional venture capital as an important mechanism but the key to continued growth and success is the industry’s ability to comply with existing and new regulations while protecting investors. “This prevents ICOs from getting shut down and maintains credibility among investors and the market,” Gafke said.
IdentityMind appointed Neal Reiter as director of the new business unit. Prior to joining IdentityMind, Reiter led the West Coast operations of Booz Allen Hamilton’s financial crimes team, where he supported global financial institutions and multinational corporations with regulatory compliance issues.
On Wednesday, March 14, IdentityMind will host a free 45-minute webinar, “KYC Compliance for ICOs Made Easier,” beginning at 11am PDT to register, please go here.