IdentityMind, a SaaS platform for online risk management and compliance automation, today announced that Bittrex, the US-based cryptocurrency exchange and technology platform, will be utilizing IdentityMind’s Digital Identities Platform for automated Transaction Monitoring as a core function of its AML program for both its Bittrex.com and Bittrex International platforms.
“At Bittrex, we have gone to great lengths to implement an AML compliance program in order to help prevent, detect and remediate suspicious behavior. With headquarters in the U.S., our expansion into Europe, and a growing network of partner platforms around the globe, we were looking for a state of the art technology to make our compliance posture worldwide even stronger.”
Bittrex’s growth has come as automated transaction monitoring is pushed to the forefront of the regulatory landscape, proving the need for efficient, automated AML compliance solutions for the day-to-day operations that require a combination of real-time technology and operational workflow support. The availability of platforms like IdentityMind that focus on comprehensive operational support of the AML process allows for a more efficient and scalable solution.
“We continue to invest in how our clients can quickly turn their manual processes into automated transaction monitoring and cost-effective compliance operations. It is clear to us that in order for financial institutions to take advantage of the advancement in compliance technology we have to integrate quickly and seamlessly into their day-to-day operations. We are thrilled to help Bittrex, one of the most important digital exchange platforms in the world, in adopting and realizing the benefits of automated transaction monitoring.”