Financial institutions are under increasing pressure to maintain compliance with a variety of rules and regulations as financial systems become more complex and worldwide. Significant monetary and reputational harm might occur from non-compliance. Blockcoder provides a comprehensive compliance management solution that makes use of Finclusive's Compliance as a Service (CaaS) APIs to give clients the essential monitoring of money transfer flows into and out of the country. This is done to make things easier for the outside world.

We'll talk about Blockcoder's compliance management system in this blog post, and how it helps financial institutions comply with rules and fight financial crime.

Single FCC Workflow and Orchestration Layer
At the heart of Blockcoder's compliance management solution is a single Financial Crime Compliance (FCC) workflow and orchestration layer, which integrates hundreds of data sources, due diligence providers, and analytics tools. This enables clients to view their compliance requirements holistically, making it easier to identify and mitigate potential risks
Full KYC and ID Verification
Blockcoder's compliance management solution also includes full Know Your Customer (KYC) and ID verification of any individual signing up on the platform. This ensures that only legitimate customers are onboarded and that their identity is verified to prevent fraud and money laundering. By providing a secure and reliable way to verify customer identity, financial institutions can reduce the risk of financial crime.
Screening of Individuals Sending Money
In addition to full KYC and ID verification, Blockcoder's compliance management solution screens individual people sending money over the network to cross-reference with Politically Exposed Person (PEP) and sanctions lists databases spanning over 250 countries. This helps to identify any potential risks and ensure that transactions are not made with individuals who may pose a threat to the financial system.
Unique, Transportable, Compliance-Backed Digital Identity Credential
RemiFirm also issues a unique, transportable, compliance-backed digital identity credential called FinClusive ID (FinCID). This digital identity credential provides a secure and reliable way for individuals to prove their identity when conducting transactions, making it an essential tool for financial institutions to combat fraud and money laundering.
Transaction Monitoring and Reporting
Finally, Blockcoder's compliance management solution provides transaction monitoring and reporting for Anti-Money Laundering (AML) compliance. This ensures that all transactions are monitored for suspicious activity and reported to the relevant authorities in a timely and efficient manner, reducing the risk of financial crime and reputational damage.

Paygold's Whitelabel Solutions

Paygold is a fintech company that provides blockchain-based solutions for international payments and global trade finance. They offer Whitelabel solutions for startups and businesses that want to leverage their technology and infrastructure. Paygold's backend infrastructure is exposed via a set of idempotent and secure API endpoints that can be accessed by clients.

Hosted End-to-End Solution

Paygold's backend infrastructure is exposed via a set of idempotent and secure API endpoints which can be accessed by clients. This means that the clients can create their front-end solution using Paygold's APIs, which enables them to customize the user experience and branding. However, for startups that want a ready-to-go solution, Paygold also offers a hosted end-to-end solution that is complete with a mobile app, web-based dashboards, and international payment settlement infrastructure, and can be modified with the client's branding.

Customized White Label Solutions

While many white-label solutions are pre-built and ready to use out of the box, some startups may require more customization to meet their specific needs. In these cases, established technology providers like BlockCoder can offer customized white-label solutions that are tailored to the exact needs of each customer. For example, a startup in the global trade finance space might require a white-label solution that integrates with the Stellar blockchain and provides real-time visibility into supply chain financing. By working with a provider like BlockCoder, the startup can get a customized solution that meets all of their requirements without having to invest in expensive development.

Conclusion

Blockcoder's compliance management solution provides all its clients with a comprehensive compliance solution that is efficient, reliable, and effective in protecting the financial system from fraud and money laundering. With the integration of Finclusive's CaaS APIs, Blockcoder's solution offers a complete compliance solution that is customizable to meet the unique needs of each client, making it the ideal choice for financial institutions looking to maintain compliance with regulatory requirements.

Transforming Compliance Management with Blockcoder's Comprehensive Solution

Single FCC Workflow and Orchestration Layer

Full KYC and ID Verification

Screening of Individuals Sending Money

Unique, Transportable, Compliance-Backed Digital Identity Credential

Transaction Monitoring and Reporting

Paygold's Whitelabel Solutions

Hosted End-to-End Solution

Customized White Label Solutions

Conclusion

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