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Blockpass Heralds Cutting Edge Compliance Automation – Advanced KYC Bot

Blockpass is proud to reveal a brand-new automation advancement that will see the KYC experience for its customers improved even further with the introduction of the Advanced KYC Bot(TM). Included as standard for all Managed Service add-on clients, the handy new bot will automate the KYC process even further, reducing the time and effort required for compliance by monitoring and processing flags to KYC profiles.

Also available on a standalone basis for Enterprise customers, the Advanced KYC Bot(TM) builds on the capability of legacy KYC Bot versions which automatically approve a KYC profile if there are no flags raised for it. If there are potential issues detected, the Advanced KYC Bot(TM) reviews and actions these via a remediation process which involves cross-referencing matching AML data, addressing any deficiencies in the documentation provided, and dealing with any issues arising from a blocked nationality. These new capabilities will reduce the time taken to address flagged profiles, whether due to issues with the data or user error in uploading or inputting information, which will ultimately lead to fewer issues or delays onboarding customers and an improved user experience of the whole process.

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Blockpass is a digital identity verification provider which provides a one-click compliance gateway to financial services and other regulated industries. Through Blockpass, users can create, store, and manage a data-secure digital identity that can be used for an entire ecosystem of services, token purchases and access to regulated industries. For businesses and merchants, Blockpass is a comprehensive KYC & AML SaaS that requires no integration and no setup cost. You can set up a service in minutes, test the service for free and start verifying and on-boarding users. Currently, with around one million verified user identity profiles, Blockpass facilitates instant onboarding, and to date over a thousand businesses have taken advantage of this opportunity to get access to users, including those with unhosted wallets, with reusable digital identity profiles.

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“We all know that regulation and compliance underpin a safe and responsible ecosystem for crypto and blockchain users, but the whole idea of Blockpass is to make the process faster, simpler, more efficient and less intrusive for both businesses and their customers,” said Adam Vaziri, Blockpass CEO. “Our tech department has been hard at work on this new development and we’re delighted to be able to showcase how it will innovate the KYC process for our customers even further. Not only that, but we also have further developments in the works that we’re excited to share with you in the near future.”

Blockpass has grown significantly in size and use since its inception, both in the number and range of users and organizations it has partnered with and the scope of its work. Blockpass continues to develop its digital identity protocol with updates and additions to improve the compliance experience. The existential need for DeFi projects to be regulatory compliant and the recent integrations and legal developments have led to a surge in interest for Blockpass’ On-Chain KYC®, the only live zero knowledge solution for Crypto KYC, and Unhosted Wallet KYC(TM) solution finally enabling blockchains and DeFi platforms to have a compliance layer. For Animoca Brands and Yuga Labs’ Otherside NFT minting in 2022, Blockpass exclusively started the first zero knowledge KYC service where the delivery of the verification result is provably sent without sharing the underlying data.

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[To share your insights with us, please write to sghosh@martechseries.com]

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