Adds Accredited Investor Verification to KYC/AML Platform for Compliant Token Sales

Netki announced the company has expanded its digital identity verification service to support security token offerings by adding accredited investor verification services to its KYC/AML platform. The company is the industry leader in creating global standards and working with enterprises and policymakers at the intersection of tokens, identity, blockchain, risk and compliance.

Netki’s digital identity verification service, launched last year, offers the most robust modular tools on the market for token sales and exchanges to meet their global compliance obligations. After supporting numerous token sales and exchanges with its KYC/AML onboarding software, Netki has integrated accredited investor verification services to further support the security token offering explosion across the globe.

As Jay Clayton, Chairman of the SEC, and J. Christopher Giancarlo, Chairman of the CFTC wrote in the Wall Street Journal, “some products that are labeled cryptocurrencies have characteristics that make them securities. The offer, sale and trading of such products must be carried out in compliance with securities law.”

“US regulators have made it clear through the Munchee case and other enforcement actions that long-existing securities laws unsurprisingly do indeed apply to token sales and ICOs,” said Justin Newton, CEO of Netki. “Our goal has always been to help the tokenized economy grow through user-friendly compliance tools. We recognized the immediate need to add integrated accredited investor verification services as more offerings take advantage of security registration exemptions like Regulation D and others.”

Netki’s automated software instantly validates identification documents from across the globe from a user’s mobile phone and uses biometric analysis to link users to their provided documents, a requirement for compliant remote onboarding that few services offer today. Once validated, users are sent through bank-grade global AML and negative news screens with results delivered for compliance review via a dashboard within seconds. Netki’s modular tools are highly customizable by jurisdiction and use case. Netki’s software is the only ID verification service on the market that reflects the local language of the user’s phone.

“No two token sales are alike, and because of that a cookie cutter approach to compliance isn’t acceptable. For that reason we continue to relentlessly add innovative technology to help companies meet their regulatory requirements and offer frictionless end-user and compliance experiences alike,” said Newton. “We’re excited to offer one platform with all of the tools needed to accelerate the tokenization of trillions of dollars of assets in the US and abroad.”

Netki is the only service that offers AML, KYC, and accredited investor verification inside of a single app, dashboard and API, providing customers essential a fluid integration with compliance services with a single contract.

Netki will be demonstrating their end-to-end onboarding platform and technology at Consensus on May 14-16 in New York.