KYC FOR ICOS & CRYPTOCURRENCY EXCHANGES
“As regulators focus on bringing more control to the cryptocurrency market, the need to provide the same level of supervision expected of the financial services sector increases”
The regulatory requirement AML Directive 5 which came into force in 2019 requires monitoring of all crypto currency transactions over the value of €50, taking the crypto currency market from one of the least regulated to one of the most.
ENTERPRISE-LEVEL SUPERVISORY AT A LOW COST
Dokstor in combination with Robolitics™ Payments Edition delivers old-world supervisory control to the new economy, and at low cost. On-Boarding is automated whilst providing full supervisory coverage for AML and financial crime checks, but at a cost that meets the needs of the new economy, protecting your business from inadvertently becoming a platform of choice for organised crime.
Fees can be paid in Bitcoin or Ethereum.
- Ensures regulatory compliance and proper AML screening
- Captures data and documents from customers easily and simply
- With Robolitics™, allows monitoring of customer transactions
WHAT IS DOKSTOR?
Dokstor is an AI-enabled, multi-channel KYC platform that accelerates and simplifies the On-Boarding of customers, whether individuals, corporates, or employees.
Dokstor’s On-Boarding process removes the administrative overhead of collecting documentation. It moves the process from one driven by the organisation to one that is self-administered by the end-customer, saving time for all concerned. Effectively, the organisation configures what data and documents are required, then the customer on-boards themselves. The organisation’s internal team moves from a labour intensive administration function to an efficient, exception-based, high value-add approach.
Documents are captured, machine read, tagged with their own metadata, and saved to the secure document repository. The identity, address, age, and AML screening status of the person can be automatically verified. As a result, much of the administrative overhead is removed, errors are reduced, and significant cost is stripped from the process, for both the On-Boarding team and the sales teams.
ALL DOCUMENTS IN ONE PLACE
It simplifies and automates the process of on-boarding customers and clients by automating the capture, validating, and storage of ID documents. Dokstor also automates the process of indicating when documents are out of date in order to request a replacement document in line with the institutions policies on re-KYCing of customers.
It stores the client’s confidential documents securely and encrypted, so you never need to go searching for them again.
Alerts and reminders
It will remind you in advance when your documents are going to expire.
It makes it easy share documents with financial institutions when they need to be used for KYC and On-boarding, whilst maintaining all this data in a GDPR compliant manner.
It is easy for employees to manage the KYC On-Boarding process, to the pleasure of your customers.