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IdentityMind Global to Help ZED Network MTOs Meet KYC, AML Compliance 

Just weeks after announcing that it would provide KYC/AML compliance solutions for Ontology Trust Ecosystem, IdentityMind Global is back in the news. ZED Network, an international payments platform, will deploy the newly-released version 2.0 of IdentityMind Global’s solution to ensure KYC and AML compliance for its money transfer operators (MTOs) around the world.

“We are pleased to work with an innovative company like ZED Network that has created a comprehensive money transfer platform for global, small-to-medium-sized MTOs so that they can effectively compete against larger MTOs,” IdentityMind Global CEO Garrett Gafke said. “We have a successful track record of working with ‘breakthrough’ companies like ZED Network to help them grow rapidly and scale while remaining compliant.”

ZED Network specializes in small to medium sized MTOS, providing them with a distributed ledger-based platform-as-a-service solution including state of the art online and mobile apps, back office administration, and built-in compliance tools. The company calls its solution a “comprehensive remittance in a box” that enables smaller MTOs to participate in a faster, more transparent, less expensive money transfer network that does not rely on banks.

“Partnering with IdentityMind helps streamline the KYC and AML process for MTOs,” regardless of their jurisdiction, ZED Network founder and CEO Alan Safahi said.

IdentityMind Global demonstrated its platform earlier this year at FinovateSpring 2018. Founded in 2009 and headquartered in Palo Alto, California, the company launched version 2.0 of its technology last month. The enhanced platform leverages dynamic modeling, a transparent access framework, and contextual identity analysis to provide accurate AML compliance with fewer false positives.

The company has been making friends at a fast pace in 2018, helping companies like decentralized private social media platform ONe Network, Canadian blockchain technology firm, Etherparty Smart Contracts; and Mexican currency value management innovator AirTM meet KYC and AML compliance requirements, as well as conduct PEP screening and transaction monitoring.

IdentityMind Global has raised more than $20 million in funding. The company includes Benhamou Global Ventures, Lakewood & Company, and Eastern Link Capital among its investors.