LONDON, 24 March 2022 – As a home-grown AML solution provider, Remitex Technologies Ltd. (RETL), an AJMS Group Entity, has been at the forefront to introduce solutions created for the present and future. With the crypto asset class experiencing wider acceptance by the traditional financial system as well as mass popularity in retail, the possibility of the end-users being caught unaware of inherent risks of crypto assets, has increased.
RETL has joined hands with Coinfirm, the industry-leading crypto AML and analytics provider, to enhance RETL’s DIGI Comply Tool to include a Risk-based AML/CFT platform for crypto assets by integrating Coinfirm’s AML Platform. Key features include risk ‘C-score’ analysis, financial analysis of wallets and state-of-the-art crypto investigatory and monitoring tools. The enhanced version of DIGI Comply will be an indispensable tool for any crypto entity as the reports will provide an in-depth risk score for coins, wallets and transactions – alerting users of potential ML/TF risks based on hundreds of indicators.
Announcing this partnership, Abhishek Jajoo, Founder of RETL, said that “We are excited to partner with Coinfirm to enhance our award-winning, DIGI Comply Solution by including Crypto AML Risk and Compliance.” He further added, “Together, we have introduced a first-of-its-kind solution catering to increased crypto compliance requirements in the marketplace. We are proud to launch the first crypto screening infrastructure in the Middle East, i.e., the DIGI Comply suite of products, which will provide a complete financial compliance solution.
Mr Mircea Mihaescu, CEO of Coinfirm, welcomed the firm’s first partner in the Middle East in the following words, “We are looking forward to working with RETL and their ecosystem to ensure that they are adequately safeguarded when exposed to new technology and payment methods. As blockchain and crypto gain greater adoption, by partnering with RETL, we are forging a bridge in the MENA region, which encapsulates all possible threats and provides a one-stop solution for AML compliance for TradiFi and crypto businesses.”
About Remitex Technologies Ltd.
Remitex Technologies is a RegTech firm headquartered in Dubai International Financial Centre (DIFC), with partners in several countries and clients, across various industries, who require AML / CFT compliance. RETL is a group company of AJMS Global Consulting, a Super Brand in the UAE. The Group has professionals drawn from the financial services industry with exposure to all facets of financial activity and Compliance, which has helped to shape DIGI as a suite of products widely accepted in the Compliance services community.
The Company’s flagship solution “DIGI” a versatile and system agnostic tool has been widely accepted by Consumer/ Financial Institution / Regulator as a user-friendly solution. In its less than 02 years of existence, it has been working with many leading companies from all relevant sectors, i.e., financial services, gems and jewelry, real estate, etc., to make them compliant with existing regulations on AML / CFT.
Coinfirm’s AML Platform for crypto assets is aimed at providing adoption of blockchain by monitoring and blacklisting funds from ransomware hacks, human trafficking, sanctions evasion and terrorist financing – amongst other crimes – by risk scoring entities, addresses and transactions. Coinfirm’s risk management platform and services are used by governments, financial institutions, custodians, payment providers, investment funds and exchanges. The 5,600+ protocol-supporting AML platform utilizes 330+ proprietary risk algorithms to provide a seamless, scalable solution to stringent regulatory requirements for both CeFi and DeFi.
Founded in 2016, Coinfirm is headquartered in London, UK, with the company retaining offices in Canada, the U.S., Poland, France and Japan. Over 250 entities have trusted the company to provide RegTech solutions to stay in compliance.