New Cryptocurrency Trader DXE Selects Mitek's Mobile Verify

New Cryptocurrency Trader DXE Selects Mitek's Mobile Verify
03.07.2018 01:19 pm

New Cryptocurrency Trader DXE Selects Mitek's Mobile Verify

Cryptocurrencies

Mitek, a global leader in digital identity verification solutions, today announced it will provide automated ID verification for new cryptocurrency trading platform, DXE. Mitek’s Mobile Verify solution will help DXE provide KYC-compliant identity verification for all customers from the platform’s go live date, as part of DXE’s ambition to stay ahead of future regulatory requirements. Mitek’s technology is part of DXE’s efforts to provide compliant customer onboarding ahead of the enforcement of the revised Anti-Money Laundering Directive (AMLD5), which has been extended to cryptocurrency wallets and exchanges.

DXE’s vision is to provide a service that makes cryptocurrency trading more accessible for its customers. Aimed at those less proficient in digital currencies, Netherlands-based DXE will simplify the process of buying and selling cryptocurrency for its customers. Also part of DXE’s goal is to ensure proper due-diligence and KYC processes are adhered to. The anonymity of cryptocurrency has put it in danger of being seen as the newest form of “shadow banking” – attracting the attention of regulators. With increasing regulatory pressure in the industry, DXE has enlisted the help of Mitek in its efforts to ensure the company can be as transparent and compliant as possible right from the launch date.

Using Mobile Verify, which employs advanced AI and machine learning algorithms, DXE can verify all new customers that register for the platform in real-time. New applicants can capture an image of their ID documents using the camera on their smartphone. Mitek’s software provides data to allow our customers to authenticate the documents submitted to them. This enables fast, frictionless on-boarding that helps DXE satisfy future KYC onboarding regulations.

“We wanted to partner with Mitek to demonstrate that we are a platform that could be trusted, by both regulators and the public, said Ernstjan Overduin, CEO, DXE. We pride ourselves on making cryptocurrency trading simple and accessible for the everyday user. Mitek’s Mobile Verify offers a solution that helps us be both compliant with future regulations and is compatible with our vision for a simple customer experience.”

“As cryptocurrency continues to become mainstream there is a greater responsibility for legitimate businesses to adopt the KYC processes used in other regulated markets,” said René Hendrikse, Managing Director for EMEA, Mitek. “Pressure from regulators is growing fast so companies like DXE are right to get everything “above board” with measures in place to verify the identity of their customers. At Mitek we want to ensure that the introduction of secure identity verification is seamless for the customer to speed up the registration process.”

 

Related News

CoinCorner comments on Bitcoin's 90% dominance

CoinCorner’s CEO, Danny Scott, commented:                                     

Read more »

Blockchain Partners with Polkadot as Network Interoperability Takes Center Stage

Blockchain, the leading provider of cryptocurrency products and creator of the most popular cryptocurrency wallet, has partnered with the Polkadot Network to accelerate the... Read more »

CryptoCompare’s July Exchange Review shows top ranked exchanges increasing market share, yet lower quality exchanges still dominate

CryptoCompare, the leading provider of cryptocurrency data and indices, today released its ... Read more »

Polychain Capital and NGC Ventures Contribute to CoinFLEX’s $10 Million USD Fundraise

CoinFLEX, the world’s first physically delivered crypto futures exchange, has announced that it secured over $10 million USD... Read more »

Crypto.com Lists Tezos XTZ

Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Tezos XTZ to its App... Read more »

CoinCorner Pays Staff Salaries in Bitcoin

New Zealand has today ruled receiving income in Bitcoin as Legal, and CoinCorner one of the UK’s leading cryptocurrency exchanges, reveals that it began paying its employees in... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel