Clain helps crypto financial institution meet regulatory requirements while offering a secure, streamlined experience from prescreening to ongoing monitoring
Clain, a crypto compliance solutions provider, announced that it has partnered with Mercury Cash. Clain will help the global cash and crypto management solution screen potential customers, monitor their activity across blockchains, and investigate potential fraud and criminal activity as it expands its crypto-as-a-service platform.
Clain will help Mercury screen potential customers, monitor their activity across blockchains, and investigate potential fraud and criminal activity as it expands its crypto-as-a-service platform.
Founded in 2017, Mercury Cash’s mission is to further the adoption of financial technology by offering best-in-class custom-fit tech without a massive development list. By utilising Clain, Mercury Cash’s compliance and management teams will have access to the necessary tools for the company to be compliant and have the capabilities to predict and detect, in real-time, criminal activity that could damage the institution and the health of its financial ecosystem. Mercury Cash takes regulation and collaboration with authorities seriously, as it is one of its core values.
Founded in 2018, Clain assists compliance teams at financial institutions, crypto businesses, and law enforcement agencies with conducting research on digital assets, detecting suspicious activity, automating investigations of their history, managing investigations, and submitting regulatory filings. The end-to-end compliance platform is built to reduce operational costs and enhance compliance by minimising false positives in the detection process.
Once Mercury Cash customers are onboarded and start posting crypto transactions, Clain’s Compliance Risk Management product helps the infrastructure provider fight financial crime by continually looking at current and historical customer information and the different interactions that customers had to provide a complete picture of their associated risk. The associated risk score is then updated with each block mined.
“Mercury Cash is primed for tremendous growth over the next two years, and we are excited to update our compliance infrastructure to reflect that,” said Manuel Valdes, Mercury’s Chief Executive Officer. “We chose Clain for the in-depth breakdown of the risk analysis they provide, ease of onboarding with their system, the simple pricing and user-friendly interface. When comparing the system’s accuracy to the other providers on the market, we found that Clain had access to much larger data sources and provided a better explanation of incidents detected.”
“We are proud to partner with Mercury Cash and to support its highly impactful mission to offer advanced, affordable, and accessible financial products to the world,” said Nate Tuganov, Clain’s CEO.
