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Gemini taps Alloy's technology to automate identity decisions for its credit card

Thursday 8 April 2021 11:06 CET | News

Gemini, a cryptocurrency exchange and custodian, has announced it will be leveraging Alloy’s platform to automate identity decisions and verification for the new Gemini credit card.

Gemini will use Alloy to facilitate its onboarding process for credit card customers and help to ensure the right systems are in place to capture and review customer data to reduce exposure to non-compliant account openings.

The Gemini Credit Card will work like a traditional credit card, available to US residents in every state and accepted wherever major cards are accepted. Cardholders will earn up to 3% back on every purchase in Bitcoin or other crypto which will be automatically deposited into their Gemini account.

Integrating Alloy's single API with their onboarding process provides Gemini with access to more than 85 data source products to create an automated KYC/AML process built to scale with demand. During onboarding, the Alloy platform uses the integrated data sources to verify the applicant's identity. Once identity is confirmed, Alloy helps determine if the applicant is safe to lend money to and what their credit limit and APR should be based on rules set by Gemini.


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Keywords: partnership, credit card, cryptocurrency, cryptocurrency exchange, digital onboarding, data
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: United States
This article is part of category

Blockchain & Cryptocurrencies