Blockchain Supply Chain Project Envoy teams up with KYC Hub

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The Envoy Group will now be capable to onboard legacy shoppers onto its commerce finance platform utilizing Know Your Buyer (KYC) know-how from KYC Hub, to reap the benefits of its anti-money laundering, enterprise verification, workflow administration and know your buyer options.

~ commercial ~Richard Kastelein Book

Envoy makes use of blockchain applied sciences to convey huge efficiencies to the worldwide provide chain and commerce finance and has raised greater than USD $13 million from Alcedo Digital Ventures in February 2020.  

Lee Tarone, CEO of Envoy Group, stated:

“Commerce finance can’t be really revolutionised with out transparency, belief, and correct due diligence. We’re excited to work with KYC Hub who’ve an arsenal of instruments to assist us shut the $1.5 trillion commerce finance hole while mitigating towards danger and unhealthy actors – the issues finally holding up the business at present.”

Jay Rao, Co-founder of KYC Hub, commented

“We’re proud to be working with an organization who intention to supply a easy and efficient answer to its shoppers, we’re very joyful to hitch them on this journey.

“In an business the place paperwork means doable fault, fraud and danger – we will automate compliance and handle operational danger for Envoy’s shoppers utilizing real-time monetary crime knowledge. On high of that, we’re related to international knowledge sources and might confirm people and corporations from 180 totally different international locations.”

KYC Hub is the newest integration following Envoys profitable $13million increase and launch. The agency additionally introduced a partnership with Pole Star’s governance answer, PurpleTRAC, earlier this month.

Constructed on enterprise software program agency R3’s Corda blockchain platform, Envoy accelerates the $17 trillion annual international commerce flows into the digital age by decreasing inefficiencies and injecting very important and once-unattainable liquidity.

KYC Hub is a UK-based start-up, with funding managed by way of Alcedo Know-how Restricted, which helps corporations mitigate the danger of fraud and monetary crime utilizing AI and knowledge intelligence. KYC Hub’s merchandise embrace a worldwide KYC and biometric verification answer, company verification and monitoring and AML (Anti Cash Laundering / Combatting the Financing of Terrorism compliance utilizing and risk-based strategy. The corporate supplies superior instruments similar to transaction monitoring, buyer danger ranking, cost screening, in addition to pattern-based entity matching.

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