ComplyAdvantage Partners with Fireblocks to Provide Award-Winning Customer Screening, Monitoring, And Transaction Risk Management for Institutions

ComplyAdvantage, a global data technology company transforming financial crime detection through embedded risk intelligence, today announced that Fireblocks, the preeminent platform that empowers traditional institutions to enter the digital asset space, has partnered to provide award-winning anti-money laundering (AML) Customer Screening and Monitoring to its customers with the addition of Transaction Risk Management for crypto-related financial services.

ComplyAdvantage was selected to help Fireblocks deliver improved support to its expanding customer base and help customers meet their regulatory obligations. Fireblocks now serves more than 800 financial institutions, has secured the transfer of over $2 trillion in digital assets, and has a unique insurance policy that covers assets in storage and transit. Fireblocks has seen significant growth over the past year, increasing revenue by 600% over the prior year. The company also recently completed a $550 million Series E funding round that raised the company’s valuation to $8 billion, making it the most highly valued digital asset infrastructure provider in the world.

“As we expand our services and our market share, it’s vital that we have the right risk management tools in place so we can onboard our customers with the greatest amount of integrity,” said Peter Singer, Deputy CCO and BSA AML Officer at Fireblocks. “That’s why we went with ComplyAdvantage. We recognized that their data-centric approach to risk management was perfectly designed to scale and keep pace with a business like ours.”

ComplyAdvantage’s Customer Screening and Monitoring provides Fireblocks with automated data generation in a constant “live state,” refreshing entity profiles within minutes of a change, and providing the ability to easily sync with other tools, including case management systems and CRMs.

In addition, ComplyAdvantage’s Transaction Risk Management offers an extensive rule library of AML/CFT risk typologies, out-of-the-box configuration options, entity extraction, and real-time screening.

“Fireblocks is a great example of a fast-growing company that needs access to intelligent risk management solutions that can keep pace with the company’s service innovation and customer expansion,” said Charlie Delingpole, founder and CEO of ComplyAdvantage. “Meaningful risk intelligence is about the discovery of unknown threats in real-time and with the greatest amount of accuracy. The team at Fireblocks understands that with the right approach to risk management, they can grow with the utmost confidence.”

Already the preferred choice of some of the world’s largest banks, enterprises, and high-growth fintechs, ComplyAdvantage uses machine learning to help regulated organisations manage their risk obligations and prevent financial crime.

About ComplyAdvantage

ComplyAdvantage is the financial industry’s leading source of embedded risk intelligence and detection technology. ComplyAdvantage’s mission is to neutralize the risk of money laundering, terrorist financing, corruption, and other financial crime. More than 500 enterprises in 75 countries rely on ComplyAdvantage to understand the risk of who they’re doing business with through the world’s only global, real-time database of people and companies. The company actively identifies tens of thousands of risk events from millions of structured and unstructured data points every single day.