SAN FRANCISCO, Jan. 19, 2022 /PRNewswire-PRWeb/ -- Hummingbird RegTech, a leading provider of risk and compliance solutions, today announced its partnership with Chainalysis, the blockchain data platform. Hummingbird and Chainalysis users will now enjoy the convenience of real-time, automated alerts on risky transactions within their AML and anti-fraud workflows directly within Hummingbird case management.
Hummingbird uses cutting-edge digital compliance tools and easily helps its customers investigate suspect transactions. Chainalysis KYT (Know Your Transaction) is the real-time cryptocurrency transaction monitoring solution that allows compliance professionals to receive alerts when suspicious transactions are conducted with or on an organization's platform.
With this partnership, Hummingbird customers can directly navigate to Chainalysis KYT UI from a crypto address in Hummingbird Case Management and file Suspicious Activity Reports (SARs) electronically with the appropriate local regulatory authorities. By integrating the blockchain and case management platforms together, compliance professionals can access a best-in-class case management workflow that reconciles crypto and fiat data.
"Chainalysis has been at the forefront of the blockchain data market and is the perfect choice for us as we both work to modernize the fight against financial crime," said Joe Robinson, CEO of Hummingbird. "We've both witnessed tremendous growth over the past year, and this partnership is a signal to the financial services industry of our commitment to broaden our offerings. We look forward to the work we will achieve together as we create this unique, first-of-its-kind offering."
"We're committed to working with companies that create a safer financial future for all investors, and Hummingbird is a perfect example," said Melissa Larson, Sr. Director of Channels & Alliances for Chainalysis. "As the world of finance continues to evolve, so does the need for the technology that secures it. Chainalysis is honored to be laying the solid foundation for the enablement of cryptocurrency adoption with Hummingbird and foresees great things coming from our partnership."
Following Hummingbird's recent raise of $30M in a Series B funding round, totaling over $41.8M in venture capital acquired, this partnership marks the continued modernization of financial crime fighting tools. As both companies continue to scale to meet the demands of the modern financial system, implementing new solutions is key to providing essential safeguards for banks, fintechs, crypto and financial institutions.
For more information, visit https://hummingbird.co.
About Hummingbird
Hummingbird is designed to enhance anti-money laundering and counter-terrorist financing investigations. It reduces cumbersome paperwork, provides insightful analytics, and enables collaboration for compliance professionals and law enforcement agents. We're on a mission to turn the tables against criminals who pollute our financial system. Modern criminals are sophisticated, tech-savvy, and agile. The tools used to fight financial crimes should be, too. To learn more, please visit hummingbird.co or follow on Twitter and LinkedIn.
About Chainalysis
Chainalysis is the blockchain data platform. They provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Their data powers investigation, compliance, and market intelligence software that has been used to solve some of the world's most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit http://www.chainalysis.com.
Media Contact
Aaron Berger, Hummingbird, +1 9173558959, [email protected]
SOURCE Hummingbird
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