Wolters Kluwer and NYDIG Strengthen Bitcoin Programs at Financial Institutions

Wolters Kluwer Compliance Solutions and NO, a provider of Bitcoin (BTC) platform solutions, have reached an agreement whereby Wolters Kluwer will act as the “exclusive” provider for interested financial institutions seeking assistance in meeting their regulatory and compliance requirements while providing “services for Bitcoin programs explore and implement “.

Wolters Kluwer is well positioned to offer regulatory compliance solutions ranging from a deposit disclosure program to regulatory risk assessments for institutions looking to provide their clients with access to bitcoin services provided by NYDIG.

This collaboration “grants Wolters Kluwer the rights as the exclusive provider of the Bitcoin Deposit Disclosure Program NYDIG accounts to those financial institutions looking for deposit documents when their customers open a NYDIG account.”

The Bitcoin Deposit Disclosure Program provides compliant content required by US banks and credit unions to “compliantly offer NYDIG’s Bitcoin program”.

By leveraging the NYDIG platform with Wolters Kluwer-compliant content, US banks and credit unions are gaining “the confidence to meet the growing mainstream interest in Bitcoin, to keep and grow their customer base and increase non-interest income opportunities” According to the announcement.

Steve Meirink, EVP and GM of Wolters Kluwer Compliance Solutions, stated:

“We are excited to partner with an innovative financial technology company like NYDIG to support their growth while staying safe and compliant. With regulatory review and oversight expected well into the future, our robust team of legal and compliance experts will continue to monitor and update our compliance content. Financial institutions working with NYDIG will benefit from this collaboration and reassure them that their disclosures are compliant and meet their regulatory obligations. “

Patrick sold, CIO at NYDIG, noted:

“This important relationship illustrates why many financial institutions have chosen NYDIG as their digital asset partner. If you are a financial institution, the process of providing access to Bitcoin is more than just an exercise in technology, but in terms of compliance and regulations. Wolters Kluwer’s knowledge and experience of providing regulatory risk assessments and deposit disclosure to US financial institutions – and understanding of key US regulatory issues related to digital assets – is critical to the industry. “

Wolters Kluwer Compliance Solutions is an established provider of risk management and regulatory compliance solutions for US banks and credit unions, insurance companies and investment firms.

The company, which is part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) division, supports financial institutions in the effective management of risk and regulatory compliance requirements and “gains the knowledge they need to focus on serving their customers better and grow their business ”.

Wolters Kluwer’s GRC division offers a range of solutions that help financial institutions “manage regulatory and risk obligations”.

iLien Motor Vehicle from Wolters Kluwer Compliance Solutions “offers the processing and management of motor vehicle titles and liens, thus helping to solve the most unique and complex challenges in title perfection.”

OneSumX® for Regulatory Change Management tracks regulatory changes and “organizes them to create structured, value-adding content through a single data feed coupled with an easy-to-use software solution.”

Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is now an international specialist for the “provision of integrated regulatory compliance and reporting solutions”. The division’s legal solutions are “Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions”.

As previously reported, NYDIG provides Bitcoin technology and financial services solutions to banks, insurers, corporations and institutions. The company and its products “meet the highest regulatory, auditing and governance standards in the industry”.

Comments are closed.