BitAML is an AML compliance advisory firm that serves the crypto industry. To help the crypto industry stay updated of the changing money transmitter license needs, the company has introduced ‘ComplyFit’.
ComplyFit is a SaaS platform that assists financial institutions identify compliance vulnerabilities and address them in real time. The product is a first of its kind money transmitter license monitoring and management tool that helps crypto businesses track updates to MTL requirements in all 50 states. All ComplyFit users are then updated in real time as to when license update or renewal is due.
Cryptocurrency compliance obligations vary state by state and change constantly and quietly, onerously requiring compliance officers to frequently check in with regulators to ensure they continue to operate in accordance with requirements. That’s why ComplyFit is such a game-changer. For the first time, crypto FIs can manage their license requirements from a single dashboard and receive notifications and real-time customer support.Joe Ciccolo, Founder BitAML
Other services offered by ComplyFit include transaction monitoring, automated tracking of mission-critical tasks, record keeping and live assistance from compliance professionals.
Find out more about this interesting product here.