Elliptic and Santander complete pilot of crypto-transaction monitoring solution

Analytics company Elliptic and Spanish bank Santander have completed testing of a solution to detect suspicious activity linked to client crypto-transactions.

📣 Elliptic, today announce the successful completion of a pilot with @bancosantander in detecting suspicious activity linked to #digitalassets 📣

Get all the details here: ➡️https://t.co/qB6qnYc4ri #crypto #AML #blockchain #santander #elliptic

— elliptic (@elliptic) June 22, 2021

The partners used Elliptic’s “Discover tool” to assess potential risks in transactions between the bank’s clients and crypto exchanges.

The company says its monitoring covers 97% of transactions by the total volume of digital-asset trading.

The pilot tests will allow the bank to develop strategies for mitigating potential regulatory breaches.

Earlier in May, the fintech startup Revolut said that will integrate three Elliptic tools.

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