ComplyAdvantage and Elliptic Collaborate for Blockchain Analysis

Crypto risk management solutions provider, Elliptic and ComplyAdvantage announced a partnership for Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term analysis and transaction monitoring today. Both companies aim to make the process of financial crime detection efficient.

The new transaction monitoring and blockchain analysis tool will facilitate cryptocurrency firms around the world in the detection and prevention of financial crime. The new solution is powered by Elliptic Navigator, the company’s crypto AML monitoring platform.

ComplyAdvantage is one of the world’s leading data technology firms transforming financial crime detection. The company was recently picked by TransferMate Global Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term. ComplyAdvantage’s latest collaboration with Elliptic came at a critical time for the global crypto industry.

"By working with Elliptic we now offer a more comprehensive blockchain analysis transaction monitoring solution for our rapidly growing base of crypto customers,” said Charlie Delingpole, Founder and CEO of ComplyAdvantage. “Data is key to preventing financial crime and our hyper-scale approach to risk management is enhanced through valuable partners like Elliptic.”

ComplyAdvantage utilizes innovative technologies like machine learning to help regulated organizations manage their risk obligations and prevent financial crime.

Elliptic Navigator

Elliptic Navigator is a crypto anti-money laundering monitoring platform of the company. It is powered by the data engine of Elliptic. According to the company, leading financial institutions around the world including Coinbase, Revolut and Santander rely on Elliptic to understand crypto risk management. Earlier this month, Elliptic raised $60 million in Series C funding to accelerate the safe adoption of digital assets.

“Empowering businesses with bank-grade payments risk solutions that integrate fiat and crypto capabilities is a critical step towards shaping a future of finance that includes virtual assets in a secure and trusted way,” said Simone Maini, CEO of Elliptic. “Our partnership with ComplyAdvantage is an exciting opportunity to develop robust solutions that provide businesses with deep insight into a broad range of crypto assets.”

Recently, Elliptic announced the expansion of its platform with a full coverage launch of Polkadot and Algorand blockchains.