“The IdentityMind Webstore is the perfect channel for small and medium-sized FinTechs, marketplaces, virtual currency exchanges, small enders, and person-to-person payment (P2P) firms to enhance their platforms,” company Chief Products and Marketing Officer Jose Caldera explained. He emphasized even smaller companies need to be sure that their compliance programs “meet the full scope of the regulatory requirements,” and added that the new offering will help them do this “faster with minimum investment.”
The Webstore functions as a self-serve marketplace where customers can choose, demo for free, and purchase regtech plugins that serve as front ends to IdentityMind’s SaaS-based trusted digital identities platform. The customizable plugins can be deployed in web apps to provide AML, KYC, sanctions screening, and transaction monitoring operations.
Immediately available are a pair of solutions: a KYC Plugin, which includes a customizable onboarding form, pre-integrated with IdentityMind’s platform; and an ICO Plugin, that helps ensure companies conduct compliant onboarding for initial coin offerings (ICOs) and security token offerings (STOs). IdentityMind Global has been especially effective in using its trusted digital identities technology in this market, having worked with more than 25 virtual currency exchanges around the world and helped more than 165 companies conduct compliant ICOs and STOs. Additional plugins are expected to be added later this year and into 2019.
IdentityMind Global demonstrated its platform at FinovateSpring 2018. Founded in 2009, the Palo Alto, California-based company partnered with ZED Network last month to help the company’s money transfer operators (MTOs) meet KYC and AML regulations. In addition to being named one of The Silicon Review’s 50 Best Companies to Watch in 2018 this summer, IdentityMind Global teamed up with Ontology Trust Ecosystem in July, with ONe Network in May, and with digital shopping platform Fluz Fluz in March.
With more than $20 million in funding, IdentityMind Global includes Benhamou Global Ventures, Lakewood & Company, and Eastern Link Capital among its investors. Garrett Gafke is CEO.