Crypto Broker BTCDirect Teams With Mitek For Digital KYC Solution

Announcements, News | May 4, 2018 By:

European bitcoin broker BTCDirect has teamed with digital identity verification solutions provider Mitek to provide digital onboarding for its customers.

BTCDirect is a Dutch company which connects buyers and sellers of cryptocurrencies. The platform allows consumers to buy and sell bitcoins and other cryptocurrencies in a secure manner. The entire platform provided by BTCDirect is basically an order placement form. Once you designate an amount of Euros you are willing to send in order to purchase one of the offered cryptos, you have to make the transfer. Since its inception in 2013, the platform has experienced rapid growth with up to 3000 onboarding request a day.

Mitek’s ID document verification allows an enterprise to verify a user’s identity during a mobile transaction, enabling financial institutions, payments companies and other businesses operating in highly regulated markets to transact business safely while increasing revenue from the mobile channel. It also reduces the friction in the mobile users experience with advanced data prefill. The company claims that these mobile solutions are embedded into the apps of more than 5,400 organizations and used by tens of millions of consumers daily for new account openings, insurance quoting, mobile check deposit and more.

Under the partnership, BTCDirect will utilize Mitek’s technology to validate the authenticity of identity documents presented by onboarding customers. BTCDirect said it opted for Mitek’s solution because of its strong roadmap and after seeing great results in the testing period.

Mike Hutting, CEO and co-founder, BTCDirect, said the company’s aim is to provide a cryptocurrency brokerage that is secure and compliant, and offering a scalable solution to customer onboarding is the first step.

“Mitek’s scalable identity verification solution is speeding up the registration process, enabling us to keep up with the enormous rise in requests. We chose Mitek as a trusted partner in this space to ensure we can be as prepared as possible to meet future regulatory requirements.”

René Hendrikse, Managing Director for EMEA, Mitek, said that both regulators and companies themselves are turning away from the anonymity that has often defined cryptocurrencies.

“BTCDirect is committed to promoting a safe and authentic experience for its customers, and getting ahead of the regulatory curve,” said Hendrikse. “With the demand for cryptocurrency skyrocketing, Mitek’s mission is to provide compliant customer onboarding that doesn’t come at the expense of the user experience.”