Photo - Zero Tolerance Solutions LTD
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Zero Tolerance Solutions LTD

Complete toolkit built to manage all AML requirements

Ukraine, Kyiv city
Market: Internet and IT, Financial services, Crypto currency
Stage of the project: Prototype or product is ready

Date of last change: 21.04.2021
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Idea

ZeroTolerance is a SaaS product on the one hand and a remote AML and legal department on the other hand. We give all technical tools, bulletproof AML framework and dedicated team of experts to cover ALL your AML requirements. Such a comprehensive approach allows us to provide the ALL-IN-ONE solution that no company in the market can provide.
Our team includes experts certified by ACAMS and ICA, the gold standards of AML qualification. We work with leading financial and regulated companies across fintech, payments, crypto, gaming, trading and other AML-regulated sectors.

Current Status

Currently, the software final product is not released since we are negotiating the fees and conditions with our strategic partners. However, we are providing AML consulting services to our current clients, which later will be onboarded to our platform for further KYC, KYT, identity verification checks selling.

Market

The market size is quite large since it consists of the financial companies, crypto, gambling, and trading industry. The serviceable obtainable market is European countries, Singapore, and Hong Kong companies.
According to the research study, the global RegTech Market was estimated at USD 5.31 Billion in 2019 and is expected to reach USD 33.1 Billion by 2026. The global RegTech Market is expected to grow at a compound annual growth rate (CAGR) of 21.27% from 2019 to 2026 (Facts and Factors research report from June-2020)

Problem or Opportunity

Our target clients are financial companies, crypto, gamblimg, betting as well as any other AML-regulated business.
Most MSB AML-regulated businesses do not understand how to cover the FULL compliance properly. The KYC tool does not necessarily solve the problem as there is a need for a more comprehensive approach towards handling AML requirements.
There is an array of news stating the fines imposed by regulators on businesses failed to comply with AML requirements (see below).
- https://www.investopedia.com/capital-one-fined-millions-for-ineffective-money-laundering-protections-5097168
- https://medium.com/sanction-scanner/banking-scandals-new-cases-6c08c3088d3d
- https://www.complianceweek.com/regulatory-enforcement/uk-tax-authority-fines-mt-global-record-324m-for-aml-failures/29902.article
- https://www.finextra.com/pressarticle/87173/abn-amro-pays-480-million-in-settlement-of-aml-violations
- https://www.internationalinvestment.net/news/4029984/singapore-regulator-fines-bank-safra-sarasin-usd
- https://www.straitstimes.com/singapore/spore-branch-of-swiss-bank-fined-1m-for-failing-to-comply-with-anti-money-laundering-and
- https://www.casinobeats.com/2021/03/25/ukgc-fines-casumo-6m-for-social-responsibility-aml-failings/
- https://www.reuters.com/article/instant-article/idINKBN23W286
- https://www.complianceweek.com/surveys-and-benchmarking/report-fines-against-financial-institutions-hit-104b-in-2020/29869.article

By implementing our ALL-IN-ONE solution the business could have avoided such coercive regulatory measures towards them.

Solution (product or service)

As the others provide only a tool - in this case, software for KYC checks, we provide the solution - delivering compliance.
While using tools of other vendors, the clients need to configure various tools by themselves, while using our solution they get the tailored legal documents, risk models, and already configured software. On top of this, we provide KYC team, that has experience with working in our software. Therefore, the customer gets the full operational AML software and team in weeks instead of months or even years where the customers have to do that by themselves.
We will provide a set of services including but not limited to
• Drafting policies and procedures, tailored to the Client and as to the legislation
• Configuring the software as to the policies draft
• KYC, KYT for fiat and crypto
• Outsourced team of KYC analyst as to the volume of checks
• Conduct transactions monitoring checks by software further supervised by the KYC analyst Team
• Appointing our officers to the management board of Clients

Team or Management

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