It enhances XBO.com's risk management capabilities to enhance customer onboarding processes.
Muinmos, a Danish RegTech firm, and cryptocurrency firm XBO.com partnered to improve how crypto exchanges onboard users. This collaboration promises speed, efficiency, and compliance with regulatory standards.
XBO.com's integration of Muinmos' software-as-a-service (SaaS) platform aims to improve users' experiences while strengthening the exchange's risk management capabilities.
According to a statement sent to Finance Magnates, Muinmos aims to enhance the platform's ability to monitor transactions and detect suspicious activities by automating Know Your Customer (KYC) processes, performing real-time client classification, and conducting continuous risk assessments.
"XBO.com is at the forefront of the crypto industry, and we are delighted they selected Muinmos when looking to take their KYC and onboarding to the next level, Remonda Kirketerp-Møller," the CEO of Muinmos said.
"Onboarding new users is one of the first interactions customers have with an exchange and, with our platform integrated into theirs, XBO.com has a secure, automated system which enables quick, efficient, and compliant onboarding of users, enhancing the overall user experience for their clients."
XBO.com, through its partnership with Muinmos, is reportedly seeking to address these challenges by introducing an automated KYC and onboarding process. It aims to boost XBO.com capabilities in dealing with potential security threats.
The Muinmos platform simplifies regulatory compliance by incorporating traditional KYC checks, corporate data verification, and client risk assessments into a single, efficient workflow. The integration aims to accelerate the registration and verification processes and strengthen the exchange's ability to mitigate potential risks. For crypto users, this translates into quicker access to services without sacrificing security.