SAN FRANCISCO, April 21, 2020 /PRNewswire/ — Beam Options introduced right this moment that Wyre, the main infrastructure supplier in crypto, chosen Beam to offer its next-generation anti-money laundering compliance platform.
“We had been on the lookout for a world-class, turnkey compliance platform that we may combine with our crypto forensics instruments,” mentioned Michael Dunworth, CEO at Wyre. “Beam’s SaaS answer gives id verification and transaction monitoring in a single platform that’s more economical than the person compliance instruments we had been utilizing earlier than. Their capability to consolidate suppliers is an actual plus for us.”
Mike Bombace, VP – Authorized & Compliance at Wyre, was impressed by Beam’s deep business data. “Their management has a few years of expertise with compliance, they usually perceive precisely what our ache factors are,” he mentioned. “Beam’s out-of-the-box guidelines completely go well with our wants. I am happy that we can launch rapidly with minimal sources and energy, and that their platform will simply scale with us as our crew grows.”
“Wyre is disrupting crypto by offering a safe, compliant infrastructure that permits their companions to create cutting-edge instruments on the blockchain,” mentioned Ben Duranske, CEO and co-founder of Beam. “We’re delighted that Beam’s compliance platform will play a key position in making certain cryptocurrency is traded safely and efficiently across the globe.”
About Beam Options
Beam Options gives the main cloud-based anti-money laundering (AML) compliance platform. Beam’s safe, quickly deployable options assist organizations safeguard the monetary system towards legal exercise and defend themselves from reputational threat. Designed by compliance business veterans, Beam’s platform contains transaction monitoring, Know Your Buyer (KYC), sanctions screening, id verification (IDV), case administration, suspicious exercise reporting (SAR), and extra.
Beam’s superior detection engine makes use of machine studying and superior knowledge sources to catch extra suspicious exercise whereas dramatically lowering false positives. The simple-to-use case supervisor gives highly effective insights and automatic regulatory reporting. Beam considerably will increase the effectivity and effectiveness of compliance groups at monetary establishments, fintechs, marketplaces, and extra.
Wyre is the main infrastructure supplier in crypto. After buying and selling over $3.5 billion in cryptocurrency property and finishing over $750 million in bank-to-bank FX funds, they’ve a longtime community of relationships with main banks and exchanges. They concentrate on compliance, licensing, and regulatory features so their companions can do what they do finest, creating wonderful instruments on the blockchain.
Established in 2013, Wyre has put its stamp on the fintech world. They’ve grown their experience in crypto wallets, digital financial institution accounts, cross-border cash switch, and company funds, they usually’re utilizing that data now to assist different crypto initiatives develop by offering the infrastructure.
SOURCE Beam Options