A breakthrough solution for crypto businesses for monitoring compliance health
Applicant name: ComplyFit
Innovation Name: ComplyFit
Innovation Type: Solution
Website: http://www.complyfit.com
Innovation Description: ComplyFit is the first of its kind Money Transmitter License (MTL) reporting tool. ComplyFit provides current alerts for action items required by each of the 50 states including quarterly reporting, annual renewals, annual reports, and miscellaneous required reports. The MTL tool is updated regularly by compliance professionals with the assistance of machine learning and keeps licensees on top of regulator reporting changes in real time. Forms, excel workbooks, reporting links, information regarding delivery method, regulator contacts, and other pertinent information is built into the software to save licensees time and money.
ComplyFit provides transaction monitoring tools designed to be customized to fit the user’s AML Program. It’s our philosophy that transaction monitoring software should be tailored to each business’s individual needs, eliminating the elevated costs associated with transaction monitoring software full of unnecessary bells and whistles. ComplyFit provides the industry-absent, economical, no-nonsense solution.
Status of Innovation: In-market
Innovation Active Since: 02/01/19
Applicant Type: Private Company
Headquarter City: Roseville, CA
Headquarter Country: United States
Year Founded: 2018
Main Category
Main Category Choice: Compliance Solution
Why do you think you should win this category?:
ComplyFit is the first Money Transmitter License Tool of its kind; built to encompass burdensome state regulatory demands and obligations, ComplyFit saves licensees countless research hours, while simultaneously providing peace of mind as regulatory requirements and deadlines are met.
ComplyFit’s transaction monitoring makes it easy to identify compliance weaknesses and vulnerabilities in real time. With a boutique of intuitive tools including record-keeping, real-time monitoring, and live support from compliance professionals, ComplyFit is an innovative solution that will push the industry toward robust AML compliance for the first time.
Secondary Category
Secondary Category Choice: B2B Solution
Why do you think you should win this category?
ComplyFit is a technology solution that automates numerous day-to-day institutional compliance tasks. It is a SaaS platform that enables cryptocurrency entrepreneurs to take corrective actions prior to regulatory examination, not after the fact. Quality control checks that used to take hours and even days can now be conducted in mere seconds. Compliance policies, customer data, and transactional data all live under one roof, enhanced by real-time analytics showing institutional compliance health, and providing pathways to update policies and procedures quickly in light of ever-changing industry regulations.
Team Members
Full Name: Joe Ciccolo
Role: Founder & President
Linkedin: https://www.linkedin.com/in/joeciccolo/
Full Name: Annelise Strader
Role: Vice President, Business Development
Link: https://www.linkedin.com/in/annelisejdcams/
Full Name: Brandon Burton
Role: Chief Technology Officer (CTO)
Link: https://www.linkedin.com/in/brandon-burton-990b1247/
Supporting Links
ComplyFit video tour: money transmitter licensing: https://youtu.be/_nOZODXa1B0
ComplyFit video tour: transaction monitoring: https://youtu.be/VIjbh9Gw4QU
ComplyFit brochure: https://drive.google.com/file/d/14dvOucFg1bdSPE9r1oIfDqPGh6H3HFq6/view?usp=sharing
ComplyFit login for RemTECH judges – username: remtech@complyfit.com / password: ComplyFit3000!: http://www.complyfit.com
Entry Representative
Full Name: Joe Ciccolo
Role: Founder & President
