Muinmos Partners with XBO.com to Improve KYC and Risk Management Systems

Muinmos, a Danish RegTech firm, and cryptocurrency
firm XBO.com partnered to improve how crypto exchanges onboard users. This
collaboration promises speed, efficiency, and compliance with regulatory
standards.

Automating Compliance

XBO.com’s integration of Muinmos’
software-as-a-service platform aims to improve users’ experiences while strengthening the exchange’s risk management capabilities.

According to a statement shared with Finance Magnates,
Muinmos aims to enhance the platform’s ability to monitor transactions and
detect suspicious activities by automating Know Your Customer (KYC) processes,
performing real-time client classification, and conducting continuous risk
assessments.

“XBO.com is at the forefront of the crypto
industry, and we are delighted they selected Muinmos when looking to take their
KYC and onboarding to the next level, Remonda Kirketerp-Møller,” the CEO
of Muinmos said.

“Onboarding new users is one of the first
interactions customers have with an exchange and, with our platform integrated
into theirs, XBO.com has a secure, automated system which enables quick,
efficient, and compliant onboarding of users, enhancing the overall user
experience for their clients.”

XBO.com, through its partnership with Muinmos, is
reportedly seeking to address these challenges by introducing an automated KYC
and onboarding process. It aims to boost XBO.com capabilities in dealing with
potential security threats.

Setting New Standards

The Muinmos platform enhances regulatory compliance
by incorporating traditional KYC checks, corporate data verification, and
client risk assessments into a single, efficient workflow. The integration aims to accelerate the registration
and verification processes and strengthen the exchange’s ability to mitigate
potential risks. For crypto users, this translates into quicker access to
services without sacrificing security.

In May, Muinmos and Blade Labs collaborated integrate
client onboarding Platform of the former into the Digital Asset Platform of the
latter. The partnership seeks to improve client onboarding process and address
the challenges faced by compliance officers in the digital assets space.

Munimos offers a client onboarding platform with AI
capabilities that aim to streamline the client onboarding process, including
investor classification. This offering allows enterprises and financial
institutions to determine whether they can onboard clients and provide them
with specific services in a given jurisdiction while ensuring continuous
updates of regulations, client information, and risk profiles.

This article was written by Jared Kirui at www.financemagnates.com.