Before anybody acts, Chainalysis has already given us the data that we need to make sure that we are going to stay compliant at all times.”
Challenge
Decoding Complexity, Unleashing Global Potential
In the heart of Latin America, Towerbank, a 52-year-old conservative institution, faced an imminent challenge. The rapid growth of crypto and blockchain threatened irrelevance. Towerbank knew a transformation was not just necessary but imminent. Towerbank defied tradition, embracing crypto and blockchain to secure its future. The birth of the Crypto Friendly Account marked a turning point. Named by the community, and co-created with the community, it became the bridge between conservative banking and the crypto revolution. However, in its early days as a crypto-friendly bank, Towerbank lacked a scalable solution for onboarding new clients, instead checking each wallet manually, leading to lost time and efficiency at this critical moment in their relationship with their new customers.
Solution
The Towerbank team decided to invest in the Chainalysis compliance solution and the robust capability it provides. The solution has equipped the Towerbank team with an easy-to-use platform to help them make informed decisions at scale, conduct due diligence, and assess sources of wealth in order to onboard its new digital asset clients safely and quickly.
