{"id":502869,"date":"2021-07-22T09:24:50","date_gmt":"2021-07-22T08:24:50","guid":{"rendered":"https:\/\/ibsintelligence.com\/?p=502869"},"modified":"2021-09-21T12:12:03","modified_gmt":"2021-09-21T12:12:03","slug":"paysafe-selects-elliptic-to-boost-crypto-payments-compliance","status":"publish","type":"ibsi_news","link":"https:\/\/ibsintelligence.com\/ibsi-news\/paysafe-selects-elliptic-to-boost-crypto-payments-compliance\/","title":{"rendered":"Paysafe selects Elliptic to boost crypto payments compliance"},"content":{"rendered":"

\"\"<\/a>Elliptic, a provider of cryptoasset risk management solutions, has been selected by Paysafe<\/a>, a specialized payments platform, for its Elliptic Lens solution. Paysafe is now able to manage indirect exposure to cryptocurrency-related risks and bolster its cryptocurrency controls. By integrating Elliptic Lens into its existing proprietary artificial intelligence (AI) powered risk engine, Paysafe can enrich know-your-customer (KYC) processes, reduce potential exposure to illicit activity, and effectively monitor the interaction between entities moving across fiat and crypto payment rails.<\/p>\n

\u201cPaysafe<\/a> has a reputation for staying ahead of the curve in innovation and compliance for the payments sector, anticipating its customers’ needs to support new products that link the fiat and crypto economies\u201d, said Simone Maini, Elliptic CEO. \u201cBy choosing Elliptic\u2019s suite of crypto compliance solutions, Paysafe is able to adapt and scale compliance operations as the company grows its footprint and keeps pace with regulatory changes to protect the business and its customers.\u201d<\/p>\n

Recently, Paysafe announced a new partnership with Bankable, a global architect of \u2018banking-as-a-service\u2019 solutions. Through the global agreement, the two companies will collaborate to launch a broad range of integrated, omnichannel banking services from Paysafe. The company has previously collaborated with Bankable on its card issuing services including the roll-out of prepaid cards for the British Red Cross in 2020. This latest development in the partnership is the first extension into the area of banking-as-a-service solutions.<\/p>\n

Giacomo Austin, Vice President, Compliance Strategy & Advisory at Paysafe, commented: \u201cPaysafe sets the bar high when it comes to compliance, which we see as a key enabler to achieve Paysafe\u2019s vision of becoming the leading specialized payments platform. We embarked on a rigorous selection process with a number of blockchain analytics providers and Elliptic demonstrated excellence in functionality, Risk Rule capability, data coverage and accuracy and the flexibility to meet our unique requirements. So far, Elliptic\u2019s overall service, reliability and technology is exactly what we were looking for in a crypto compliance partner.\u201d<\/p>\n

Giacomo adds, \u201cElliptic\u2019s configurable Risk Rules allow Paysafe to have direct control over how rules are designed and customized specifically to our needs and to the risk presented by our product, while also allowing us to leverage Elliptic\u2019s deep market expertise.\u201d<\/p>\n","protected":false},"author":8,"featured_media":166397,"parent":0,"template":"","categories":[11385,11396],"tags":[11868,11859],"class_list":["post-502869","ibsi_news","type-ibsi_news","status-publish","has-post-thumbnail","hentry","category-blockchain","category-cryptocurrency","tag-america","tag-paysafe"],"acf":[],"yoast_head":"\nPaysafe selects Elliptic to boost crypto payments compliance<\/title>\n<meta name=\"description\" content=\"Elliptic, a provider of cryptoasset risk management solutions, has been selected by Paysafe, a specialized payments platform, for its Elliptic Lens solution.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ibsintelligence.com\/ibsi-news\/paysafe-selects-elliptic-to-boost-crypto-payments-compliance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paysafe selects Elliptic to boost crypto payments compliance\" \/>\n<meta property=\"og:description\" content=\"IBS Intelligence (IBSi) is the world\u2019s only pure-play Financial Technology focused research, advisory, and fintech news analysis firm, with a 30-year track record and clients globally. We take pride in covering 400+ technology vendors globally \u2013 the largest by any analyst firm in this space.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ibsintelligence.com\/ibsi-news\/paysafe-selects-elliptic-to-boost-crypto-payments-compliance\/\" \/>\n<meta property=\"og:site_name\" content=\"IBS Intelligence\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ibsintelligence.cmc\/\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-21T12:12:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ibsintelligence.com\/wp-content\/uploads\/2020\/06\/paysafe.jpeg.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"300\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:site\" content=\"@IBSIntelligence\" \/>\n<meta name=\"twitter:label1\" content=\"Est. 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