Envoy, a blockchain-powered global supply chain platform, announced that it has teamed up with KYC Hub to take advantage of its anti-money laundering, business verification, workflow management and know your customer (KYC) solutions as Envoy onboards legacy clients onto its trade finance platform.
This latest integration of KYC Hub follows Envoy’s successful $13 million raise and launch. The firm also announced a partnership with Pole Star’s governance solution, PurpleTRAC, earlier this month.
Built on R3’s Corda blockchain platform, Envoy accelerates the $17 trillion annual global trade flows into the digital age by reducing inefficiencies and injecting vital and once-unattainable liquidity.
KYC Hub is a UK-based start-up, with investment managed through Alcedo Technology Limited; which helps firms mitigate the risk of fraud and financial crime using AI and data intelligence.
Products of KYC Hub include a global KYC biometric verification solution, corporate verification/monitoring, and AML (Anti Money Laundering) compliance; using a risk-based approach.
The company provides advanced tools such as transaction monitoring, customer risk rating, payment screening, as well as pattern-based entity matching.