ICOadmin concluded an agreement with Sum&Substance
ICOadmin, a secure software service for ICO crowdsales, has concluded an agreement with Sum&Substance, KYC/AML provider.
KYC/AML-service is needed in order to make ICO-projects, in front of regulators, transparent. The main difficulty for the overwhelming number of ICOs after the completion of the crowdsdale is opening of a bank account and conviction of regulators that the collected funds are not involved in money laundering and terrorist financing.
ICOadmin team is at everlasting search for the amelioration of the service. Having essayed motley KYC and other services, after trenchant audit ICOadmin team decided to cull the very best solutions. That is why ICOadmin team is glad to announce co-operation and connection with KYC/AML services provider Sum&Substance. As part of the agreement, ICOadmin integrates quick and simple Sum&Substance KYC/AML checks into ICOadmin’s platform, which will ease the investors’ registration procedure.
ICOadmin chose Sum&Substance KYC/AML-checks, because it does not reduce the conversion of the crowdsdale due to the fast and convenient onboarding process for investors. To confirm the identity, the user only needs to upload a photo of a document and a selfie with it, and the result will be ready within minutes.
ID-verification system is developed on the basis of AI, therefore it conducts all types of checks necessary for regulators within seconds. It is worth noting that the Sum&Substance company has been working on the blockchain market since 2016 and conducted KYC for more than 200 projects from the industry, including ICOBench, Abyss, Blue Whale, Edenchain. This experience allowed them to accumulate a deep legal and compliance expertise, which is now used to work with complex verification cases.
It is important that Sum&Substance meets all of the requirements for the personal data protection: European (GDPR, local East European requirements), local and federal requirements of the United States, local Asian regulations (Korea, Japan, Singapore, etc.).
Thus, ICOadmin clients do not need to worry about reliable KYC, legal issues, the integration of such solutions or the storage and protection of personal data.
Sum&Substance is one of the most recognizable players in ID-verification market and KYC/AML audits. All channels for data transmission are protected, and the information is transmitted in an encrypted form in order to protect it. Data centers have a protection level of Tier 3, which means the highest level of protection. The company’s products for transparency for regulators and guarantees of user confidence are used by corporations and startups from different industries and territories — Mail.ru Group, Gett, The Token Fund, Cryptopay, Blue Whale, Jury.Online, Wheely, Avito and so on.
ICOadmin and Sum&Substance will work together hand in hand towards creating a secure space regarding ICO regulation.
Learn more about Sum&Substance: https://sumsub.com/.
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