ComplyAdvantage Selected to Provide Fireblocks’ AML Services

ComplyAdvantage, a global data technology company providing financial crime detection through embedded risk intelligence, today announced that Fireblocks, a platform that empowers traditional institutions to enter the digital asset space, has partnered to provide anti-money laundering Customer Screening and Monitoring to its customers with the addition of Transaction Risk Management for crypto-related financial services.

The company was selected to help Fireblocks deliver improved support to its expanding customer base and help customers meet their regulatory obligations. Fireblocks now serves more than 800 financial institutions, has secured the transfer of more than $2 trillion in digital assets, and has an insurance policy that covers assets in storage and transit. The company also recently completed a $550 million Series E funding round that raised the company’s valuation to $8 billion.

“As we expand our services and our market share, it’s vital that we have the right risk management tools in place so we can onboard our customers with the greatest amount of integrity,” said Peter Singer, deputy CCO and BSA AML officer at Fireblocks. “That’s why we went with ComplyAdvantage. We recognized that their data-centric approach to risk management was perfectly designed to scale and keep pace with a business like ours.”

ComplyAdvantage’s Customer Screening and Monitoring provides Fireblocks with automated data generation in a constant “live state,” refreshing entity profiles within minutes of a change, and providing the ability to easily sync with other tools, including case management systems and CRMs. In addition, ComplyAdvantage’s Transaction Risk Management offers an extensive rule library of AML/CFT risk typologies, out-of-the-box configuration options, entity extraction, and real-time screening.

“Fireblocks is a great example of a fast-growing company that needs access to intelligent risk management solutions that can keep pace with the company’s service innovation and customer expansion,” said Charlie Delingpole, founder and CEO of ComplyAdvantage. “Meaningful risk intelligence is about the discovery of unknown threats in real-time and with the greatest amount of accuracy. The team at Fireblocks understands that with the right approach to risk management, they can grow with the utmost confidence.”

ComplyAdvantage uses machine learning to help regulated organizations manage their risk obligations and prevent financial crime.

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