Mitek’s Mobile Verify solution will help DXE provide KYC-compliant identity verification for all customers. 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 accessible for its customers. Moreover, the crypto trader aims to ensure proper due-diligence and KYC processes they 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, according to the official press release.
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 customers to authenticate the documents submitted to them.
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