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LONDON, UK / ACCESSWIRE / May 22, 2024 / Net Savings Link, Inc. (OTC PINK:NSAV), a cryptocurrency, blockchain and digital asset technology company, announced today the integration of AI-managed Know Your Customer (KYC) protocols to enhance its FIAT Onramp/Offramp services on its NSAVx.com CEX Exchange https://nsavx.com/ . These enhancements include real-time payments (RTP), ACH, PayPal, and custom onboarding options with Cash App and Venmo.
Advanced KYC Integration: The NSAVx.com platform now uses artificial intelligence to perform rapid and accurate identity verification, which includes:
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Document Verification: Automatic scanning and validation of government-issued documents.
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Facial Recognition: Live comparison of user photos to ID documents to confirm identities.
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Data Checks: Verification of user-provided data against public and private databases.
Importance of AI-Managed KYC:
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Regulatory Compliance: Ensures adherence to global anti-money laundering (AML) regulations.
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Enhanced Security: Protects against fraud by verifying the identities of all platform users.
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User Convenience: Streamlines the verification process, improving the overall user experience.
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Trust and Credibility: Strengthens the integrity and reliability of the NSAVx platform.
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Market Access: Guarantees compliance with jurisdictional AML requirements for using FIAT transaction services.
Improved Onramp/Offramp Services:
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Onramp: Enables the conversion of fiat money into cryptocurrencies using diverse payment methods, facilitating easy access to the digital asset market.
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Offramp: Allows users to convert their cryptocurrencies back into fiat currencies, supporting the withdrawal of funds into traditional banking systems.
FIAT Currencies Supported: The platform now supports multiple fiat currencies, including USD, GBP, EUR, AED, AUD, BRL, CAD, TRY, HKD, and MXN, broadening access for international users.
Underwriting with Credit Card Merchants: NSAV is in the final stages of underwriting with two international credit card merchants to allow crypto purchases via credit and debit cards, with NSAVx.com managing client interactions while the merchants assume chargeback liabilities.
NSAV released the following statement, "By integrating AI-driven KYC into our operations, we underscore our commitment to regulatory compliance and anti-money laundering standards globally. As we advance our digital asset licenses, our robust KYC framework not only demonstrates our seriousness about AML but also enhances our service offerings, ensuring NSAVx.com remains pivotal for both new and existing users in managing their investments across fiat and digital currencies. By adding these features to our exchange, we forecast adding several million dollars a month in new transaction fee revenue, as we roll these services out to our growing customer base."