Beam Introduces Blockchain Analytics Integration
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To fully comply with anti-money laundering (AML) requirements, firms must consider all of their customers' financial activity. And with the rise of cryptocurrency, it's no longer sufficient to monitor transactions in fiat currencies only. To address this growing concern, Beam now integrates with the leading blockchain analytics providers.
Blockchain analytics solutions are able to decipher the complex web of information over a public blockchain. They follow the flow of digital assets and discover hidden relationships between multiple entities.
Beam connects to these blockchain analytics systems to obtain customer information, including profile data, risk scores, and crypto transaction history. Beam aggregates and transforms this data before combining it with existing data points to perform enhanced detection through rules in the Beam system. When a case is created based on suspicious activity, analysts can easily view the details about the relevant customer’s information from both the Beam system and the blockchain analytics system.
Beam's seamless integration with blockchain analytics improves our customers’ ability to detect and investigate suspicious activity across both crypto and fiat currencies. It allows compliance analysts to see a complete financial profile of their customers and easily investigate suspicious activity, regardless of its type or source. To learn more, schedule a demo today.