PRAGUE, Tuesday 1st November – Resistant AI, the AI and machine learning financial crime prevention specialists, has announced that X1, a cryptocurrency trading platform, has selected Resistant AI’s Document Forensics solution to increase the efficiency and accuracy of its Source of Funds (SOF) and Proof of Address (POA) checks, a statutory obligation under EU Anti-Money Laundering regulations. As a result of the implementation, the time required to carry out document authentication processes will be reduced from days to just seconds.
X1 is an innovative cryptocurrency exchange platform designed to service both novice and experienced traders alike. With their previous manual SOF and POA checks creating bottlenecks in crucial customer onboarding processes, X1 is implementing the Document Forensics solution to increase efficiency, help them scale more effectively as they grow, and widen their ability to detect unknown fraud that can evade checks carried out by the naked eye.
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