Risk management and payment services company Vogogo offers impeccable fraud mitigation solutions for business level account holders.
The crypto processor, which raised $12.5 million in funding this year, has been lately putting a special focus on creating compliance-focused solutions for bigger clients. The company believes that business level account faces more risks due to their accessibility towards more features and higher limits, and therefore deserve a liable model to safeguard themselves from fraud risks, regulatory risks and fraudulent merchants.
“A fraudulent merchant account can damage your relationship with your processing banks and result in high fines, involvement in money laundering or criminal investigations, diminished operational resources due to increased workload and lost funds,” Vogogo explained. “We use a proprietary merchant on-boarding model that assesses fraud risk, regulatory risk and business viability prior to communicating a decision to accept or decline the merchant.”
The advanced risk management system includes a range of compliance-focused features, including a real-time transaction monitoring tool and a merchant risk scoring system. It helps clients know their business partners better, and reduce the legals risks from their business deals. The system also comes with compliance AML/CTF alerts, ensuring to put businesses in sync with their legal obligations.
Vogogo is currently offering its risk management and payment processing services to over 20 clients, including BitStamp, a high-profile Bitcoin exchange. The company’s CEO Geoff Gordon has already indicated their move towards amplifying their client pool as the industry evolves.
The services offered by Vogogo come handy for companies that are constantly liable to live up to the growing digital currency standards around them. Vogogo somewhat eliminates the clients’ need to abide strict regulatory frameworks by offering instant access to leading verification tools.
To know more about their services, visit here.