Gatenox wants to simplify the process of onboarding corporate clients into the digital economy
This article will divided into 5 parts: The Problem, The Solution, The Team, The Integrations, Partnerships & Roadmap, and The Conclusion, so make sure to begin from the start (The Problem) before moving on to the other parts.
The Problem:
In today's environment, the crypto industry has seen not only many success stories of its own over the past 10+ years, but many failures and challenges that it must address and solve, and one of those problems is compliance in web3.
The way that compliance is being treated in web3, such as the current KYC and AML processes, is ineffective as it fails to keep track of any criminal/fraudulent activity, terrorist financing, and money laundering that’s happening on-chain, and it fails to help onboard and verify new customers and corporate clients without a streamlined and secure KYC process.
However, it doesn’t only happen over here in the crypto industry.
According to Gatenox’s ‘About’ page on their website:
“For traditional finance, the compliance process is estimated to cost businesses around or over billions of dollars, and can even add up to 6–10% of an organization’s revenue, which businesses aren’t a fan of. Due to this, the client onboarding process remains unnecessarily convoluted, it creates frictions that have an impact on trade and commerce, and businesses are now desperately seeking to find an alternative solution that doesn’t cost them as much to onboard new customers.”
On top of that, current traditional compliance tools are becoming increasingly outdated and unable to keep up with the dynamic nature and the rapidly evolving pace of the blockchain industry. As such, there is an increasing need for effective and secure solutions that help businesses navigate the intricate landscape of regulatory compliance and verification in decentralized / web3 business environments.
Taking all of the information above into account, the current solutions for the onboarding of new corporate clients and organizations aren’t designed for the needs and wants of a web3 future, and integrating with its core infrastructure makes any advantages non-existent. As a consequence, they’re lacking in the efficiency and ease of use of the onboarding process as well as the adoption of new privacy standards.
Gatenox is making compliance in web3 more streamlined and secure so that it can allow the onboarding of corporate partners and organizations for any web3 project easier.
The Solution:
To put it simply, Gatenox is a compliance and verification hub that appeals to corporate clients and organizations via its AML and KYC solutions due to the increasing demand for corporate KYC that is needed in the rapidly growing and evolving world of web3 and DeFi.
If you thinking as to why you should use Gatenox for your onboarding solutions, here’s what Gatenox has to say; they can reduce the onboarding time from 2 months to just 1 click, they can streamline their compliance processes for over 330M potential customers in over 192 jurisdictions, they can increase your customer base with access to over 900 leading web3 projects, and can even secure new customers by spending up to 90% less time on verification!
Gatenox describes its values below:
Scalable - To reduce the time spent by both client and compliance teams, Gatenox will ensure that a fast onboarding process will help them scale.
Security - To protect user data from malicious actors, Gatenox is devoted to maintaining ironclad privacy and security standards across its platform.
Simplicity - For the corporate KYC process to be streamlined, Gatenox will develop user-friendly solutions to appeal to its clients.
Transparency - Gatenox believes in the sentiment of web3, and so they will adhere to the principles of it by allowing full transparency on the platform.
Gatenox currently has 3 products that it has developed for its corporate partners and customers, which are:
Gatenox Hub:
The Gatenox Hub has been designed from the ground up to make the corporate KYC process easier for both verifiers and their customers. The below points are what it includes:
Compliance Cloud, which has an ownership graph, UBO discovery, web3-native risk assessments, screening and real-time monitoring, direct customer communications, an audit trail, team KYC, and even AI-assisted corporate KYC.
ID Node, which includes one-click onboarding, an onboarding wizard, optimization for any device, web3-compatibility, and data security (compliant with GDPR, SOC2 & ISO27001).
Gatenox API, which gives real-time notifications, automated account creation, data downloads, and risk factor updates. The Gatenox API will even be expanded to include HubSpot, Salesforce, other CRMs, and various platforms as integrations with Gatenox’s system.
Blockchain Analytics:
Gatenox’s Blockchain Analytics feature can allow for effective transaction screening that gives businesses access to monitor transactions and wallets for up to 1,383,000 crypto assets with precision and efficiency (up to 98% of the market which is industry-leading), it can issue transaction reports that can calculate the full risk of up to 33,000 blockchain entities’ addresses and transactions of multiple inputs and outputs, and can also issue AML risk reports that allow you to download detailed PDF’s for crafting SAR’s & knowing client risk exposure (standard & enhanced).
KYC Individuals:
Gatenox describes this as their AI-powered individual KYC feature, and it allows for a seamless onboarding process that can all be done in just 35 seconds, and it only asks for minimal information like a government-issued ID as well as a selfie.
It can verify up to 12,200 different government-issued IDs across 250+ countries and territories and can cover up to 138 language variations. Gatenox has also got you covered if you want to onboard retail customers high net-worth individuals, or you want to dive deep into corporate KYC processes involving directors and UBOs.
Not to mention that this is all as easy as 1,2 and 3! Just take a photo of yourself as well as your government-issued ID, then Gatenox’s AI will scan and verify the IDs, which it can do for any business globally, and finally, in just 35 seconds, your business can move forward with a verified and secure onboarding process.
In terms of revenue for the platform and the business itself, Gatenox has released 3 different pricing options ‘Corporate’, ‘Platform’, & ‘Enterprise’, and each one has its benefits and advantages depending on which option a business wants to choose from (you can see them in the image below). If you want to view the pricing of these options, you can contact the Gatenox team and they’ll explain and show the pricing for the option that you’re interested in purchasing.
Finally, Gatenox is currently providing the chance for corporate clients and organizations to book a demo of the Gatenox platform if they have displayed their interest in using it for their future operations, and can let you go live on the platform once they get everything set up for you and if you have paid for one of the 3 pricing options of your choice.
The Team:
Gatenox’s team is located in the city of London (you can find their official location at the end of their website), and is made up of individuals who have more than 10 years of experience, skills, and knowledge in the finance, legal, tech and blockchain/crypto industries. Because of this, it makes them more suited and well capable of developing a compliance and verification platform to onboard corporate clients and organizations that display their interest in entering the digital economy. Below, you can find the list of individuals that make up the team at Gatenox:
Pawel Kuskowski (Co-founder & CEO):
Pawel serves as the co-founder and CEO at Gatenox. In terms of his background, he has experience in compliance, analytics, and SaaS development. He also was the co-founder and CEO at Coinfirm and has led the blockchain analytics firm through Seed, ICO, and Series A and B funding with remarkable success. Before working in web3, he served as the Global Head of AML for the Royal Bank of Scotland.
If you would like to see more of Pawel's work, here's his LinkedIn profile.
Wojciech Zatorski (Co-founder & COO):
Wojciech serves as the co-founder and COO at Gatenox and has around 20 years of experience as a leader in mobile and enterprise architecture. On top of that, he also has built multiple startups that have been acquired by Mastercard, such as the Central European mobile payment system ‘BLIK’.
If you would like to see more of Wojciech's work, here's his LinkedIn profile.
Carol Van Cleef (Advisor & Head of Industry Liaison for US Markets):
Carol serves as the advisor & head of industry liaison for US markets at Gatenox, and she has personally worked as a Forbes “50 over 50” AML and compliance lawyer and consultant. For her other experiences, she chaired a blockchain and digital assets practice called ‘Bradley Arant Boult Cummings LLP’ that provides guidance related to digital assets, has worked as a director at a company called BTCS, and also sits on the board of the Travel Rule Information Sharing Alliance (TRISA).
If you would like to see more of Carol's work, here's her LinkedIn profile.
Raf Demczuk (Advisor & Head of Regulatory Affairs for UK and International):
Raf serves as the advisor & head of regulatory affairs for the UK and international at Gatenox, and since he also has experience as a high-value litigation expert, his practice ranges from compliance to IP, and more recently, digital assets. Other than that, he has also advised HNI investment groups on technology and is a part of the Smart Data Think Tank.
If you want to know more about Gatenox and their team, make sure to head over to the References section of this article, where you can find their LinkedIn page.
The Integrations, Partnerships & Roadmap:
In terms of partnerships, Gatenox has successfully been accepted into Aleph Zero’s EFP and has both been in a partnership ever since April 2022.
To add to this, they have also achieved two major technical milestones from the EFP, which was announced in September 2023. The first milestone is that they’ve seamlessly integrated their hub with the Aleph Zero blockchain as well as the AZERO ecosystem, including different Dapps and DEXs. Because of this, every ecosystem project building on Aleph Zero can now access and verify corporate credentials directly through the Gatenox Hub, ensuring authenticity and trustworthiness.
Moreover, to guarantee that any public address interacting with the Aleph Zero blockchain is verifiably associated with a known identity, Gatenox will allow companies and individual users to prove ownership of their AZERO wallet by linking them directly to their real-world identity/government-issued ID. Not only that, but an additional and upcoming feature is the ability to add whitelisted addresses that have successfully undergone the Corporate KYC check and soon to enable ZK-Proof corporate DIDs, which further enhances the security and trust within the AZERO ecosystem.
Furthermore, the second milestone is that they’ve also come out and said that they’re expanding their capabilities and services into Asia and the Middle East. And what they mean by that is that they’re integrating additional data sources from prominent web3 hubs, including Singapore, Switzerland, Dubai, and many more. This makes their total coverage encompass over 550 million companies (including China), allowing them to offer more detailed information on companies from a specific region and automating more of the corporate onboarding process.
These milestones have been marked as a major step forward in their joint mission to enhance the security, transparency, and efficiency of the digital economy.
Not only are they partnered with Aleph Zero, but they’ve also signed partnerships and integrations with Near Protocol, Coinfirm (Pawel was the co-founder and CEO of this), MWEK Solutions, AZERO.ID, and SMART-compliance GmbH.
Gatenox has successfully secured more than 5 partnerships and integrations for their platform.
The Conclusion:
In conclusion, Gatenox is a compliance and verification platform that wants to achieve in making the onboarding process of corporate clients and organizations streamlined and easier when they want to participate in the digital economy. With their recent achievements, like integrating their hub with the Aleph Zero blockchain and its ecosystem projects as well as expanding their business to other regions such as Asia and the Middle East, they will, without a doubt, lead in the KYC solution space and have the opportunity to have some amazing corporate partners onboard with them and let them utilize Gatenox’s efficient and streamlined platform. If you want to learn more about Gatenox, then go visit their website, educational blog site, LinkedIn page, and YouTube channel (all found in the References list below), and don’t forget to join their socials if you haven’t as well!
References:
Website - https://gatenox.com/
Twitter/X - https://twitter.com/gatenox
LinkedIn - https://www.linkedin.com/company/gatenox
Blog - https://gatenox.com/blog/
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