Gemini chooses ComplyAdvantage for advanced customer screening compliance

By Pavithra R

ComplyAdvantage, a global data technology company transforming financial crime detection announced that Gemini Trust Company, a New York trust company that is a licensed cryptocurrency exchange and custodian has selected its hyperscale platform for anti-money laundering risk management.

Throughout the world, compliance teams are looking for intelligent technologies that can uncover risk in real-time and decrease operational costs so their companies can transact with trust and grow with confidence. With escalated adoption of cryptocurrency and digital assets, Gemini was looking for a solution that could continue to scale with its rapid growth.

“We selected ComplyAdvantage because of the company’s agile approach to financial crime risk management. ComplyAdvantage’s hyper-scalable model, customizable screening solution, and collaborative approach to Gemini’s model were critical to meeting our compliance needs,” said Elena Hughes, Chief Compliance Officer at Gemini.

Founded in 2014 ComplyAdvantage is a RegTech company that provides anti-money laundering technology. By leveraging its proprietary data asset and advanced machine learning the firm helps Gemini in detecting sanctions and adverse events while uncovering hidden risks during customer onboarding and throughout the client lifecycle, automating AML risk monitoring while maintaining the highest level of compliance oversight and integrity.

“Gemini is a great example of a market leader implementing the best in compliance practices to support the company’s customer on-boarding. Now, Gemini can scale with our real-time, high quality sanctions, PEPs, and adverse media solutions, allowing them to make more informed decisions on their customers relative to their risk-based approach,” said Charles Delingpole, founder and CEO ComplyAdvantage.

Founded in 2015, by Cameron and Tyler Winklevoss, Gemini is a next-generation cryptocurrency exchange and custodian that allows customers to buy, sell, and store more than 30 cryptocurrencies including bitcoin, bitcoin cash, litecoin, ether, and Zcash.