Blockchain Banking App Humaniq Integrates Coinfirm Platform

Announcements, Blockchain | November 28, 2017 By:

Blockchain banking app Humaniq has partnered with blockchain RegTech company Coinfirm to provide a new level of transparency and security to Humaniq users.

Founded in 2016 by Alex Fork, Humaniq is a banking application built on the ethereum platform with a shared API (application program interface) for quickly integrating new startups and services from existing companies. The company is utilizing a mixture of blockchain technology, biometrics, and a mobile application to open up a vastly under-served market among the unbanked populations of the world. According to Humaniq, two billion people in world don’t have access to banking and their mission is to empower the world’s emerging economies by bringing financial services to everyone.

Coinfirm is a Regtech solutions provider known for its anti-money laundering (AML) and counter-terrorism financing (CTF) platform. The company’s blockchain AML/CTF compliance platform uses proprietary algorithms and big data analytics to provide structured actionable data that increases efficiency, reduces costs and streamlines compliance to near automation, taking the process from a double digit percentage of labor and time expenses to a practical, automated utility.

Humaniq and Coinfirm are aiming to provide complete solutions for the world’s unbanked people and enabling financial inclusion for emerging economies through joint initiatives globally. Under the agreement, Coinfirm will integrate its AML/CTF platform across the Humaniq ecosystem to further secure transactions made in Humaniq’s HMQ tokens from uncontrolled misuse for illegitimate purposes.

Humaniq will also provide Coinfirm with access to all white-labeled HMQ wallets created on the Humaniq platform, which will be used by Coinfirm to supply its users with information regarding registered secure wallets and facilitate secure participation in the global economy.