EQIBank stands as a frontrunner in digital banking, serving purchasers in 180+ nations. Based by veterans from HSBC, Credit score Suisse, Financial institution of New York, and UBS, the financial institution boasts over 240 years of mixed experience in finance and blockchain.
Since buying its banking license in 2018, it has set a brand new normal by providing a single banking relationship that encompasses nationwide currencies, cryptocurrencies, and digital belongings. Prospects profit from a complete suite together with buying and selling, custody, and peer-to-peer lending.
In 2022, EQIBank was honored with the “HNWI Digital Financial institution of the 12 months” award by Pan Finance, demonstrating its proficiency in digital banking.
Key Challenges
- Advanced Laws: Navigating international AML guidelines is complicated and varies by jurisdiction, requiring fixed consideration to keep away from authorized points.
- Want for Environment friendly Screening: Handbook techniques have been gradual and error-prone. Automation was wanted for quicker, correct transaction and shopper screening.
- Operational Dangers: Non-compliance might end in extreme penalties and operational restrictions, impacting monetary stability and effectivity.
A dependable resolution was wanted to mitigate these dangers and streamline compliance.
Watch full interview with Eli Taranto, CEO, Digital Belongings at EQIBank
“The largest downside was ensuring the wallets have been absolutely compliant. Which means we would have liked to attach a number of databases, primarily databases initiated by the federal government which might be run and operated by nationwide businesses and maintained globally and collectively with different gamers to ensure that no nefarious gamers get into the crypto house.” — Eli Taranto, CEO, Digital Belongings at EQIBank stated
Options
AMLBot offered EQIBank with superior AML options:
- Consumer Screening: Effectively screening purchasers and transactions utilizing an unlimited array of databases.
- Transaction Monitoring: Guaranteeing all wallets and transactions have been compliant with laws.
- Operational Automation: Automating processes to cut back handbook workload and improve effectivity.
EQIBank Use AMLBot for the Following Options:
- KYT (Know Your Transaction) permits for Actual-time transaction monitoring.
- KYC (Know Your Customer) supplies Complete id verification.
- AML Policy: Guaranteeing compliance with international AML laws.
Outcomes
Automated Processes inside 24 Hours:
- 5X Enhance in Productiveness: Enhanced effectivity and diminished handbook workload.
- Excessive-High quality Knowledge: Dependable transaction monitoring and shopper screening.
- Consumer Belief: Boosted belief by way of stringent compliance and safety measures.
Testimonial
“As quickly as we began working with digital belongings we made certain we partnered with the perfect. AMLBot helped us ensure that no dangerous gamers get into the business as a complete. We’re very pleased with the service. We’re in a position to display screen our purchasers efficiently.
The automation is actually a welcome addition to our digital belongings. So the truth that we will go in, display screen an handle and get an instantaneous threat rating and outcome positively helps our group work quicker. The faster we will display screen and ensure a pockets is protected and safe, the quicker we will do the commerce and quicker the shopper is comfortable. So in that sense we’re very comfortable and proud to be working with AMLBot.” — stated Eli Taranto, CEO, Digital Belongings at EQIBank
About: AMLBot is a number one supplier of anti-money laundering options, providing superior instruments and databases to assist companies keep compliant with international laws. AMLBot’s providers are designed to make sure that crypto companies can successfully display screen transactions and purchasers, defending the integrity of the monetary system. Get in touch with us.
