Whitestream, a blockchain analytics company has joined X-Sight Marketplace developed by NICE. This platform-as-a-service assists financial service providers to launch new services in the market along with protecting them against any risk or frauds.
Itsik Levy, CEO, and co-founder of Whitestream, welcoming the partnership with NICE said that,
“There is strong synergy and alignment between the industry-leading financial crime solutions and platforms that NICE Actimize offers its community and Whitestream. We look forward to building our presence within this innovative community platform.”
Speaking about the services provided by the company,
“We bring innovation and business value to financial services and organizations looking to adapt the power of blockchain analysis to their financial crime compliance operations.”
Whitestream specializes in blockchain analysis technology, with the help of which it extracts necessary information. The company uses its expertise to keep a watch on the market, analyzing trading frequencies, observing holding periods and keeping a tab on the watchlist/restricted lists. Whenever it gets to know of a fraud or market abuse, it immediately alerts the concerned company or individual. Whitestream has developed a “rating engine” of its own. The unique algorithm of this engine studies the traffic pattern to map the crypto coin network and list secure blockchain areas, thereby safeguarding the user from a potent threat of deceit.
Technology providers who want to partner with NICE Actimize’s X-Sight Marketplace ecosystem have to go through the review system of the platform. They are reviewed for their capacity to counterpart economic offense and compliance solutions. On approval, they are available to NICE Actimize community on the X-Sight Marketplace.
Other features that are going to be added to NICE Actimize’s X-Sight Marketplace in partnership with other organizations include ID Verification, Ultimate Beneficial Ownership, Value-added Data, and Adverse Media, Watchlist, Device Identification, and User Authentication and Fraud in upcoming blockchain summits. With the expansion of X-Sight Marketplace, newer features and services will keep on adding.
CEO of NICE Actimize, Craig Costigan expressed his excitement on Whitestream becoming part of the Marketplace Ecosystem. Costigan also spoke about the user-friendly approach of the platform,
“By connecting via a cloud environment, community participants will experience a quicker time to value and minimized integration cost as they evaluate new solutions for their financial services organizations.”