Sekuritance, a new CeFi, and DeFi Regtech ecosystem look to deliver top regulatory, compliance, transaction monitoring, and identity management to merchants and individuals.
Lots of financial transactions are happening each day, and a lot of businesses and individuals fall victim to fraud as well. For businesses, remaining compliant, staying ahead of the game, and as well complying with different regulations in different jurisdictions has never been harder. Due diligence on customers, device checks, card checks, etc., the number of checks going on during even one online transaction is absolutely ridiculous.
In crypto, there are no regulatory bodies as of yet, as there are elements of decentralization in play. However, when money starts moving in both directions, (decentralized or crypto to the traditional world), problems arise and different compliance roadblocks start popping up. Fortunately, a new project called Sekuritance is determined to solve this issue to help the blockchain take the next step in its evolution.
What is Sekuritance?
Sekuritance is a Regtech platform that offers a single platform to run numerous compliance, regulatory screenings for individuals and institutions of different sizes. On their single platform, users can run end-to-end AML/CTF, FCPA, CECL, investor checks, card processing MFA checks, blockchain wallet address checks, cyber risk assessments, and so many other business process management requirements.
How does it work?
The Sekuritance platform offers a lot of features including scalability, security, and flexibility. Using an advanced Holistic Screening Engine, it is capable of offering drag-and-drop configurability, RESTful APIs, dynamic workflows, binary APIs, high speed, encryption, maximum automation levels, and the ability to scale. Not only does it offer both individuals and businesses alike its suite of products and services, but the platform is also designed to support third-party integrations and customizations making it even more available to its users in regulatory and compliance.
“We believe that we are good at what we do, but even we acknowledge that we don’t know everything.” says Jonathan Camilleri Bowman, Sekuritance project visionary.
“So just coming up with our module and presenting it to the community is not going to be enough. So we opened up a partner system to invite software developers and companies that have any solution in the regulatory compliance business out there to integrate under the Sekuritance umbrella. We give them merchant agreement to participate in the Sekuritance ecosystem and merchants using our products to check their transactions and remain compliant have an option of not one solution, but all the solutions we are integrated with”
The project also enables checks, vault queries, transaction monitoring, and other activities that include fraud monitoring, Anti-Money Laundering verification services, and compliance services to be referenced on the Blockchain to ensure auditability.
The result of the project includes enhancing Know Your Customer (KYC), fraud reduction in both traditional and crypto space, extremely fast method of obtaining PCI level 1, and even increased approval of transactions.
The project is governed by the $SKRT token, which will serve its cryptocurrency for enterprise-class regulatory technology, security, compliance, and more. $SKRT is a utility token, issued on the ethereum blockchain (ERC20 token) that is blockchain agnostic, which means that it can be on different protocols such as ethereum, bitcoin, and even private permissioned protocols such as Hyperledger. Also due to its Layer 2 added functionality and value, it’ll easily be able to shift to newer blockchains when they become available in the future. The $SKRT token can be exchanged for services and used to perform KYC, AML, KYB, Wallet verifications, secure data tokenization storage, and other features that will be launched on the Sekuritance platform during its roadmap discovery.
Sekuritance is the World’s First RegTech & RiskTech partner ecosystem powered by the SekurSuite™ and the $SKRT digital utility. They provide a single platform from which to run multiple regulatory, compliance, and monitoring queries and programs at institutions of every size.
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