Compliance and regulations are two key aspects affecting modern organizations. With technological advancement, organizations are constantly faced with the threat of fraudsters attempting to infiltrate their systems. Additionally, there is a need to work with customers whose background is understood. For most businesses, they tend to handle regulation and compliance checks like Know Your Customer and Anti-money Laundering monitoring by the help of third parties. However, this approach can be costly in the long run. The emergence of Sekuritance offers a solution where businesses can rely on a single platform to meet compliance and regulation requirements.
What is Sekuritance?
Sekuritance is a RegTech platform working towards becoming the ideal AML & compliance partner for the CeFi & DeFi verticals. The project offers a single platform that allows integration of multiple regulatory, compliance, and monitoring solutions for institutions of any size. Sekuritance services are available for a range of organizations and individuals, from corporates to small businesses.
The Sekuritance solutions are implemented on top of an organization’s business and transactional data systems. They analyze and create alerts that can be reviewed later by the company’s compliance departments. Notably, the alerts generated by the Sekuritance solutions are based on customizable rules selected by the organization based on its business and client profiles.
Once alerts have been activated on the client’s end, it is investigated by the compliance department that reviews the activity in question. Standard system procedure dictates that the client should be contacted in case further clarification is needed. From this point, it will be decided if the client operated illegally or suspiciously. The results of the investigation lead to the dismissal of the alert or closing of the client account.
Sekuritance also seeks to help developers and integrators to connect to the platform’s consumers. Product offerings offer them a platform to promote their unique products in the niche space of RegTech. This makes the platform available for use for the entire community.
Sekuritance Value Proposition
In the world of rapid technological innovation, financial institutions are compelled to adhere to regulatory compliance for the financial institution, growing faster. In this case, institutions rely on technological firms that are reciprocating solutions at a higher pace. Sekurtance recognizes that emerging technologies like artificial intelligence and machine learning are witnessing practical application.
Furthermore, multiple specialized and boutique firms are offering domain-specific solutions to deploy use cases against different players who deploy artificial intelligence and machine learning as a platform. However, financial institutions are faced with the threat of making losses due to financial crimes. This trend is growing at a very rapid rate. Notably, fraudsters are being innovative by employing new and sophisticated technologies to improvise their hacks. With their innovative nature, Sekuritance understands that there is a need for a solution where technological advancements have to be used to fight fraud in the financial sector by enabling early identification of fraudsters beats modus operandi.
Sekuritance offers a one-stop solution through KYC, KYB, KYT, AML, Sanction Screening, and rule engine applications. Sekuritance RegTech helps in getting transaction and IP risk scores data for analysis and workflows, and subscores that form the components of a transaction risk score. The solution helps in understanding the reasons motivating the risk of a transaction to assess fraud better.
Sekuritance Service Portfolio
To meet its mandate, Sekuritance has rolled out several services that are under constant improvements. The platform offers fraud monitoring solutions that detect illegal and high-risk transactions made online. The solution carries out continuous monitoring of user behaviors and calculates risk ratings to identify potentially fraudulent purchases, transactions, or access. The solution is an application in the fintech, healthcare, and e-commerce sectors.
In founding Sekuritance, one of the guiding principles was privacy and data security. It is this ability that led to the PCI Data Vault solution. Notably, privacy and data security are the basis of all the product offerings under the platform. The system solutions securely store information that is deemed too sensitive to be exposed, including health records, trade secrets. The information is deployed to drive other powerful tools like anti-money laundering, identity verification, fraud detection, and blockchain investigations.
Another critical service is the Rule Engine. Sekuritance deploys this solution to consolidate micro-second decision making instead of hiring third-party products to perform varied AML/Fraud Monitoring/Screening/PEP checks/ sanction checks/risk scores/fraud scores and other variables.
Sekuritance seeks to help governments, banks and businesses understand how customers use cryptocurrency via a shared knowledge of blockchain-powered economy through the Know Your Everything solution.
The Bottom Line
Working with a platform line Sekuritance ensures your needs are met. The platform understands the compliance and regulation scene while striving to ensure customers get the best out of it. Sekuritance boasts of a team with over 100 years of experience with skills in fraud, risk, aml, customer profiling, and transaction journeys.
Credit: Source link
