Nemean Services chose NorthRow to deliver a quicker, more efficient customer onboarding process to support the highest standards of digital asset security.
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“We can now organise and track our checks and cases far more effectively using WorkStation than was possible with our previous providers. This is invaluable to us, especially with the multitude of cases that we process. The system efficiently and effectively completes our KYC and KYB verification requirements during onboarding.”
Robin Kear
Senior Account Executive
Background
With extensive experience in both the military and financial services sectors, Nemean Services specialise in the storage, security, and audit of digital assets. The firm works with cryptocurrency institutions, namely industry giants like Copper and Cobo, to safeguard and protect digital assets through cold-storage of data.
The Nemean team is made up of a unique blend of former military officers, financial experts, and highly trained specialists, delivering the highest standards of digital asset security and reassurance to their clients.
Key benefits
Helping Nemean Services to onboard new customers in the simplest, safest, and fastest way.
Simple processes
More effective organisation and tracking of checks.
Improved onboarding
Real-time and automated customer verification.
Ensuring compliance
Supporting continuing compliance with KYC and KYB requirements.
The Challenge
To deliver the very best customer onboarding experiences
Digital asset companies, such as exchanges and custody providers, can be attractive targets and unwilling facilitators for money laundering and other forms of financial crime. It is crucial for firms like Nemean Services to verify and validate clients, safeguarding their platforms and systems against fraudulent activities and undue risk. This maintains and builds their already exemplary reputation as the ‘first choice in digital asset security around the world.’
Nemean’s due diligence procedures were already carried out to the highest standard, facilitating a ‘clean’ security ecosystem, and allowing them to provide services with no risk of affiliation with financial crime. However, the due diligence solutions were becoming cumbersome. Thus, the Nemean team sought a solution that would continue to deliver both individual (KYC) and business (KYB) verification, whilst improving the overall onboarding experience for their clients, and ensure continuing compliance with future KYC and KYB requirements.
Leading the onboarding process for Nemean Services, Robin Kear is responsible for ensuring comprehensive due diligence is carried out on every client, explaining: “Nemean is an industry-leader in security and storage solutions, coming highly recommended by a number of industry leaders in cryptocurrency custody and exchange. We have worked tirelessly to stay in line with increasing industry regulation; it is our goal to ensure that worldwide cryptocurrency adoption is founded by a secure and stable environment, free from financial crime.
“The Nemean team have endeavoured to improve client experience, ensuring that the clients we interact with, the data that we store, and subsequently, the assets associated with that data, are subject to stringent AML and due-diligence processes. Nemean has achieved ISO 27001 and SOC2 accreditation, making us the most credible trusted third-party in the industry. Improvements to our due diligence process solidify our commitment to AML regulation improving customer experience, and maximising data security.
“Our previous provider had limited capacity for KYB checks sufficient to our requirements and security standards, and was not able to provide the integrated onboarding solution we sought. Therefore, we evaluated various alternative providers that matched our values and commitment to a clean security and data storage ecosystem.”
WHY NORTHROW?
A solution to support comprehensive verification
“Having first worked with our existing provider for alternatives to address KYB capacity, we discovered they could not fulfil our requirements as a growing digital asset security firm. Nemean needed a quick solution in the rapidly growing market.”
Robin explains why NorthRow stood out as their vendor of choice: “The platform appeared intuitive, provided all the services that we needed, and was more affordable than many competitors.”
THE BENEFITS
Delivering efficient KYC/B onboarding a market leader
Since incorporating WorkStation into their onboarding process, client due diligence and onboarding have become slicker and more efficient for the team. NorthRow’s intuitive software has not only sped up the onboarding process, but will form a cornerstone in Nemean’s ambitious growth and client expansion in the future.
“We have embedded NorthRow into our business model to provide background checks on every client and their directors. We use the system to perform background checks on any individuals our clients would like to authorise. This allows our clients to fully utilise our data security services,” Robin explains.
“We can now organise and track our checks and cases far more effectively using WorkStation than was possible with our previous providers. This is invaluable to us, especially with the multitude of cases that we process. The system efficiently and effectively completes our KYC and KYB verification requirements during onboarding.
“We plan to continue utilising NorthRow’s service as our business grows into multiple new service lines, revolving around core service of cold storage – the most secure storage protocol available in the industry. WorkStation will be at the heart of our business, allowing us to remain diligent in the constant onboarding of new clients,” Robin adds.
What Now?
Further embedding WorkStation for a lasting partnership
As for the future of Nemean’s partnership with NorthRow, the company has big plans to further integrate WorkStation into their business, making use of our powerful API in their client onboarding process.
Robin explains more: “We will be implementing an API on our website to allow our already slick onboarding process with NorthRow to become even smoother. Our clients will now be able to input all their information independently. The previous process could prove cumbersome, as our Account Managers had to request client details and upload them onto the platform to issue a RemoteVerify link. Cutting out additional steps in the process streamlines our due diligence processes, improving customer experience and reducing onboarding duration.”
With shorter onboarding times, the increased efficiency at Nemean Services since introducing NorthRow’s robust KYB and KYC solution has been tangible. The ongoing partnership has lofty aspirations for a long and successful collaboration for years to come, where the companies work in tandem to continually improve Nemean’s security protocols.
“WorkStation is a very effective tool. NorthRow is constantly developing and rolling out new updates, even taking into consideration some bespoke features that we have requested, specifically for our account.
“The NorthRow team is very responsive and readily available for assistance or to answer queries we may have. They are great to work with and we look forward to our continuing partnership!” Robin concludes.
Testimonial
Robin Kear
Senior Account Executive
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