Before starting the company, the founders of Regtank gained extensive knowledge of the industry while working with blockchain technology for a few years. Regtank was founded as a result of their understanding and foresight of cryptocurrency regulatory difficulties like anti-money laundering (AML) and counter-finance terrorism (CFT). Regtank’s intelligent offering can assist both centralized and decentralized financial or crypto exchanges with risk assessment while also carrying out Know Your Customer (KYC) and AML operations. Clients can utilize Regtank’s extensive database to scrutinize users meticulously and determine whether they have a bad track record or are from a high-risk country. Interestingly, Regtank’s automated platform or risk assessment engine gathers users’ personal information in the system and automatically displays a thorough report to clients.
“We make compliance simple to detect, comprehend, and navigate. We don’t compromise on how we can assist clients in meeting the regulations,” states Megan Lee, CEO, and Founder of Regtank.
Particularly for the decentralized cryptocurrency exchanges, the company’s technology can comprehensively detect and deliver information about an individual or an organization and assist them in analyzing their crypto wallet addresses and transactions. The accurate, holistic solution prevents clients from being involved in fraudulent transactions, creating a safe financial ecosystem.
The efficiency of Regtank’s solution is illustrated in a scenario where it assisted a cryptocurrency exchange startup. To comply with regulatory standards, the client needed a solution to help them with KYC and AML screening for cryptocurrency exchanges. It was a time-consuming and tedious task for them to approach different vendors and connect various data points of different platforms. This need led the client to seek help from Regtank – with the company’s comprehensive solution requiring only a single API integration with the client’s existing systems. Not only was the platform capable of swiftly and automatically providing reports based on transactions, but users could also leverage its maximum potential without extensive training.
We make compliance simple to detect, comprehend, and navigate. We don’t compromise on how we can assist clients in meeting the regulations
Regtank follows a customer-centric approach - emphasizing on the importance of credibility from their customers and recommendations from satisfied reviews. Even after the onboarding process of a client, the company continues to provide support whenever they face shortcomings. What’s more, Regtank was shortlisted as a finalist for the Asia FinTech Awards 2021 under the category of “Startup of The Year”. This evidently showcases the company’s capabilities and its unique value proposition offered to the industry.