Home > News > Top Stories > BitGo Launches 24/7 Digital Asset Withdrawal Services for Customers

Financial Management

BitGo Launches 24/7 Digital Asset Withdrawal Services for Customers

BitGo_Launches_24
BitGo has declared the introduction of 24/7 withdrawal support services for customers. It is a first-of-its-kind solution that delivers 700+ clients of the company with the ability to transact with the security of their digital assets. BitGo is the leader in digital asset financial services worldwide.

BitGo’s 24/7 withdrawal support services are created preferably for customers to allow greater convenience, security, and accessibility for their digital assets. While other custodial platforms only enable customers to access their digital assets during certain hours, usually only on weekdays. But with BitGo’s 24/7 withdrawal support, customers can access their transactions non-stop without any limitations. The solution is proposed through BitGo’s custodial platform BitGo Trust Company (“BitGo Trust”). The trust is led by President Cassie Lentchner, the first female president of a crypto custody bank.

Digital asset markets are open for trading 24/7, and digital asset holders earn around-the-clock access to their assets. Through BitGo’s 24/7 withdrawal support, they can eventually receive these services 24 hours, seven days a week. The digital asset ecosystem is proliferating. We must persist in providing the most comprehensive solutions to our broad customer base, which spans from leading exchanges to some of the top financial firms and investors. I’m proud of our best-in-class team for creating this game-changing solution and looking forward to providing unmatched accessibility and security to the digital asset economy.”

President Cassie Lentchner.

Security is always top-of-mind for investors globally as they look to ensure their digital assets are safe and protected. BitGo’s latest safeguard enhancement goes beyond the standard security requirements, establishing a new industry standard, and giving investors peace of mind. Additionally, our clients are looking for institutional and retail players to move into the digital asset arena. We are eager to incorporate this development into our platform for our clients and their crypto."

Chris Kline, COO, and co-founder of bitcoin IRA.

BitGo Trust was created to meet the needs of institutional investors and crypto-native businesses. Because for them, compromising on security for access is a now way option. BitGo Trust is the only qualified,d and independent custodian focused on building the proper market structure and facilities to let institutions enter the digital asset space with confidence.

Spotlight

Is Excess Inventory Your New Year Fear? How an Online B2B Recommerce Marketplace Can Quickly Move Out PostHoliday Returns and Excess Inventory

Experts predict record sales for US brands and retailers this holiday season. Unfortunately, with return rates at an all-time high and supply chain breakdowns fresh in our memory, it's hard to forecast just how much stock to produce or buy—and your business may well find itself with a surplus of unsold and returned merchandise a

More featured news

Spotlight

Is Excess Inventory Your New Year Fear? How an Online B2B Recommerce Marketplace Can Quickly Move Out PostHoliday Returns and Excess Inventory

Experts predict record sales for US brands and retailers this holiday season. Unfortunately, with return rates at an all-time high and supply chain breakdowns fresh in our memory, it's hard to forecast just how much stock to produce or buy—and your business may well find itself with a surplus of unsold and returned merchandise a

Related News

Financial Management

BNY Mellon's Pershing X Teams Up with Integrity, Grows Client Base

BNY Mellon | October 09, 2023

Integrity will leverage the Wove platform to manage over $40 billion in assets through its wealth management network. Pershing X introduced the Wove platform in June, unifying advisors' client tools into a highly data-driven system. Wove, powered by BNY Mellon Investment Management, offers Integrity and clients access to top-tier investment solutions from specialized firms. BNY Mellon's Pershing X has informed that Integrity Marketing Group, LLC, a prominent insurance and financial services entity, has strategically adopted its Wove wealth management platform to enhance and fortify its operational capabilities. This strategic initiative will enable Integrity to equip its financial professionals with cutting-edge technology and investment resources, leading to a transformation in its client service approach and ensuring a heightened standard of excellence. With this, clients can anticipate a more robust and all-encompassing financial advisory experience. Ainslie Simmonds, President of Pershing X, expressed enthusiasm about Integrity's adoption of Wove as a new client and the alignment with their growth strategy using the scalable solution. She further stated that the platform will empower Integrity's insurance agents with a comprehensive toolkit tailored to enhance their wealth management capabilities. Notably, the Wove platform will grant Integrity's advisors access to extensive third-party models and investment models, including mutual funds and exchange-traded funds, curated by BNY Mellon's Investment Management division, one of the world's largest investment managers. These models will be securely stored on the Wove platform, tailored for optimizing wealth accumulation, retirement income portfolios, and capital preservation. BNY Mellon's Pershing will also provide comprehensive broker-dealer clearing and custody solutions. Hanneke Smits, Global Head of Investment Management at BNY Mellon, remarked, This is a great example of how BNY Mellon is bringing the scale of its enterprise together to deliver a combined offering to clients. [Source – Cision PR Newswire] In June, Pershing X introduced the Wove platform, representing a pivotal shift as it consolidates advisors' client tools into a sophisticated, data-driven system. Integrity is poised to leverage the capabilities of the Wove platform to manage an extensive asset portfolio exceeding $40 billion through its expansive wealth management network. Meanwhile, Bryan W. Adams, Co-Founder and CEO of Integrity, also expressed his excitement about collaborating with BNY Mellon, which offers a distinctive range of solutions. This encompasses access to the Wove platform and personalized portfolio offerings. This transformative partnership between Integrity Marketing Group and BNY Mellon will offer a holistic client experience, encompassing financial prosperity and vital aspects of life, such as health and well-being. Together, the two companies aim to empower clients with comprehensive solutions that facilitate improved financial planning and brighter prospects for the future.

Read More

Security and Compliance

Jack Henry Launches Next-Generation Financial Crimes Platform

PR Newswire | October 18, 2023

Jack Henry™ (Nasdaq: JKHY) announced today that it is redefining fraud prevention with the initial roll out of Jack Henry Financial Crimes Defender™, a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities at the forefront. This new solution allows community and regional financial institutions to proactively combat financial crimes across channels. Financial Crimes Defender is part of Jack Henry's technology modernization strategy, focused on delivering cloud-native solutions that help banks and credit unions innovate faster, differentiate strategically, and meet the evolving needs of their accountholders. The platform is built on the public cloud, allowing for real-time data, more accurate reporting, open integrations, speed, and agility. New York-based Carver Federal Savings Bank is among the first financial institutions to implement the solution. "Jack Henry's Financial Crimes Defender positions us well against the rising threat of fraud; it allows us to offer a secure and smooth banking experience for our customers," said Patrick Brennan, VP of information technology at the bank. "It's seamless integration, user-friendly design and real-time, AI-powered fraud detection will help us operate more efficiently and improve our fraud detection rate to keep our customers and their money safe. Our staff can now make faster and smarter decisions and better combat financial crimes and minimize risk." Financial Crimes Defender provides real-time detection and prevention of fraud involving checks, deposits, transfers, ACH transactions, and instant payments. Financial institutions can stop transactions before they leave the institution or appear in the clients' accounts. Plus, its open architecture allows for the seamless integration of third-party data into the platform, improving overall fraud management for financial institutions across all relationships. This AI-powered solution bundles fraud and AML solutions to help financial institutions of all sizes make faster and more informed risk decisions, minimize false positives and wasted resources, improve operational efficiency, and ensure more effective fraud monitoring and reporting for Bank Secrecy Act (BSA) compliance. Moreover, its real-time data and behavioral analytics enables secure transactions and enhanced trust. In order to fight fraud with more data, financial institutions can access a central repository of fraudulent activity using the Federal Reserve's FraudClassifier, built natively into the solution. FraudClassifier addresses the industry-wide challenge of inconsistent classifications for fraud involving ACH, wire, or check payments. Fighting fraud with real-time data is the equivalent of catching an intruder at the front door, before they get into the house, says Matt Riley, president of Complementary Solutions at Jack Henry. Financial Crimes Defender lets financial institutions detect and prevent fraud at first sight, ensuring assets and information remain within the institution. This is a game-changer for community banks and credit unions.

Read More

Security and Compliance

Genpact Integrates riskCanvas with Amazon Bedrock to Transform Financial Crime Management with Advanced Generative AI Capabilities

PR Newswire | September 29, 2023

Genpact (NYSE: G), a global professional services firm focused on delivering outcomes that transform businesses, expanded its relationship with Amazon Web Services, Inc. (AWS) to transform financial crime risk operations, leveraging generative AI and large language models (LLMs). Integrating Genpact's proprietary cloud-based financial crime suite, riskCanvas™, with Amazon Bedrock, has led to accelerated efficiencies and impact for clients such as Apex Fintech Solutions. Amazon Bedrock is a fully managed service that enables developers to test, integrate, and deploy industry-leading foundation models (FMs) via an application programming interface (API) and customize the models to best suit their unique use cases. Building on its existing relationship with AWS, Genpact is now combining its intellectual property and deep industry expertise with AWS's generative AI capabilities. For example, seamlessly incorporating Amazon Bedrock FMs into Genpact's riskCanvas financial crimes software suite aims to unlock exponential value and improve speed and accuracy in the detection, investigation, and prevention of financial crime threats for operations across enterprises. This allows experts to review outputs and incorporate a guided decision-making process, providing comprehensive summaries and analyses of potential financial crime activities – accelerating both efficiency and precision. Genpact engaged multiple riskCanvas clients to significantly improve the detection, investigation, and prevention of a wide range of financial crime threats. As a result, Genpact is now driving accelerated efficiencies and delivering substantial impact for these clients in finance and capital markets, exemplified by their work with Apex Fintech Solutions. "Financial criminals are constantly innovating, which means financial services companies need to use advanced digital technologies to stay one step ahead of them," said Justin Morgan, Head of Financial Crimes Compliance at Apex Fintech Solutions. "With the addition of generative AI features to Genpact's riskCanvas, our analysts will be able to produce Suspicious Activity Report (SAR) narratives and case summaries at the click of a button using inputs from millions of data points. We expect this will reduce time spent on case summarizations by 60%, allowing our analysts to spend more time identifying truly suspicious financial activity." Using approved client data from the secure riskCanvas ecosystem, combined with Amazon Bedrock's secure data handling, enables the generation of highly accurate outcomes while maintaining data protection across clients. "Responsible AI is a core consideration in AI implementation and its importance will continue to increase, said Atul Deo, General Manager, Amazon Bedrock at AWS. Amazon Bedrock is rooted in secure data handling, encrypting all data and allowing users to customize models privately. Integrated with Genpact's riskCanvas, this powerful combination enables our mutual customers to enhance productivity in investigating, detecting, and preventing financial crime threats. The initiative enables clients to fully leverage the potential of generative AI solutions and drive secure, scalable, AI-led transformation. "Data complexity and volume, false positives, and evolving sophisticated criminal tactics are accelerating the need for businesses to harness generative AI to transform financial crime operations," said BK Kalra, Global Business Leader, Financial Services, Consumer and Healthcare, Genpact. "Genpact's expanded relationship with AWS represents a pivotal step in redefining the operations landscape for enterprises. Together we can unlock untapped value, and fuel significant growth opportunities for our clients, solidifying our commitment to delivering valuable business impact." For more information on Genpact's relationship with AWS, visit: AWS | Our Partners | Genpact, and for more information on our financial services visit: AWS Financial Services | Our Partners | Genpact.

Read More

Financial Management

BNY Mellon's Pershing X Teams Up with Integrity, Grows Client Base

BNY Mellon | October 09, 2023

Integrity will leverage the Wove platform to manage over $40 billion in assets through its wealth management network. Pershing X introduced the Wove platform in June, unifying advisors' client tools into a highly data-driven system. Wove, powered by BNY Mellon Investment Management, offers Integrity and clients access to top-tier investment solutions from specialized firms. BNY Mellon's Pershing X has informed that Integrity Marketing Group, LLC, a prominent insurance and financial services entity, has strategically adopted its Wove wealth management platform to enhance and fortify its operational capabilities. This strategic initiative will enable Integrity to equip its financial professionals with cutting-edge technology and investment resources, leading to a transformation in its client service approach and ensuring a heightened standard of excellence. With this, clients can anticipate a more robust and all-encompassing financial advisory experience. Ainslie Simmonds, President of Pershing X, expressed enthusiasm about Integrity's adoption of Wove as a new client and the alignment with their growth strategy using the scalable solution. She further stated that the platform will empower Integrity's insurance agents with a comprehensive toolkit tailored to enhance their wealth management capabilities. Notably, the Wove platform will grant Integrity's advisors access to extensive third-party models and investment models, including mutual funds and exchange-traded funds, curated by BNY Mellon's Investment Management division, one of the world's largest investment managers. These models will be securely stored on the Wove platform, tailored for optimizing wealth accumulation, retirement income portfolios, and capital preservation. BNY Mellon's Pershing will also provide comprehensive broker-dealer clearing and custody solutions. Hanneke Smits, Global Head of Investment Management at BNY Mellon, remarked, This is a great example of how BNY Mellon is bringing the scale of its enterprise together to deliver a combined offering to clients. [Source – Cision PR Newswire] In June, Pershing X introduced the Wove platform, representing a pivotal shift as it consolidates advisors' client tools into a sophisticated, data-driven system. Integrity is poised to leverage the capabilities of the Wove platform to manage an extensive asset portfolio exceeding $40 billion through its expansive wealth management network. Meanwhile, Bryan W. Adams, Co-Founder and CEO of Integrity, also expressed his excitement about collaborating with BNY Mellon, which offers a distinctive range of solutions. This encompasses access to the Wove platform and personalized portfolio offerings. This transformative partnership between Integrity Marketing Group and BNY Mellon will offer a holistic client experience, encompassing financial prosperity and vital aspects of life, such as health and well-being. Together, the two companies aim to empower clients with comprehensive solutions that facilitate improved financial planning and brighter prospects for the future.

Read More

Security and Compliance

Jack Henry Launches Next-Generation Financial Crimes Platform

PR Newswire | October 18, 2023

Jack Henry™ (Nasdaq: JKHY) announced today that it is redefining fraud prevention with the initial roll out of Jack Henry Financial Crimes Defender™, a cloud-native fraud and anti-money laundering (AML) solution designed with real-time capabilities at the forefront. This new solution allows community and regional financial institutions to proactively combat financial crimes across channels. Financial Crimes Defender is part of Jack Henry's technology modernization strategy, focused on delivering cloud-native solutions that help banks and credit unions innovate faster, differentiate strategically, and meet the evolving needs of their accountholders. The platform is built on the public cloud, allowing for real-time data, more accurate reporting, open integrations, speed, and agility. New York-based Carver Federal Savings Bank is among the first financial institutions to implement the solution. "Jack Henry's Financial Crimes Defender positions us well against the rising threat of fraud; it allows us to offer a secure and smooth banking experience for our customers," said Patrick Brennan, VP of information technology at the bank. "It's seamless integration, user-friendly design and real-time, AI-powered fraud detection will help us operate more efficiently and improve our fraud detection rate to keep our customers and their money safe. Our staff can now make faster and smarter decisions and better combat financial crimes and minimize risk." Financial Crimes Defender provides real-time detection and prevention of fraud involving checks, deposits, transfers, ACH transactions, and instant payments. Financial institutions can stop transactions before they leave the institution or appear in the clients' accounts. Plus, its open architecture allows for the seamless integration of third-party data into the platform, improving overall fraud management for financial institutions across all relationships. This AI-powered solution bundles fraud and AML solutions to help financial institutions of all sizes make faster and more informed risk decisions, minimize false positives and wasted resources, improve operational efficiency, and ensure more effective fraud monitoring and reporting for Bank Secrecy Act (BSA) compliance. Moreover, its real-time data and behavioral analytics enables secure transactions and enhanced trust. In order to fight fraud with more data, financial institutions can access a central repository of fraudulent activity using the Federal Reserve's FraudClassifier, built natively into the solution. FraudClassifier addresses the industry-wide challenge of inconsistent classifications for fraud involving ACH, wire, or check payments. Fighting fraud with real-time data is the equivalent of catching an intruder at the front door, before they get into the house, says Matt Riley, president of Complementary Solutions at Jack Henry. Financial Crimes Defender lets financial institutions detect and prevent fraud at first sight, ensuring assets and information remain within the institution. This is a game-changer for community banks and credit unions.

Read More

Security and Compliance

Genpact Integrates riskCanvas with Amazon Bedrock to Transform Financial Crime Management with Advanced Generative AI Capabilities

PR Newswire | September 29, 2023

Genpact (NYSE: G), a global professional services firm focused on delivering outcomes that transform businesses, expanded its relationship with Amazon Web Services, Inc. (AWS) to transform financial crime risk operations, leveraging generative AI and large language models (LLMs). Integrating Genpact's proprietary cloud-based financial crime suite, riskCanvas™, with Amazon Bedrock, has led to accelerated efficiencies and impact for clients such as Apex Fintech Solutions. Amazon Bedrock is a fully managed service that enables developers to test, integrate, and deploy industry-leading foundation models (FMs) via an application programming interface (API) and customize the models to best suit their unique use cases. Building on its existing relationship with AWS, Genpact is now combining its intellectual property and deep industry expertise with AWS's generative AI capabilities. For example, seamlessly incorporating Amazon Bedrock FMs into Genpact's riskCanvas financial crimes software suite aims to unlock exponential value and improve speed and accuracy in the detection, investigation, and prevention of financial crime threats for operations across enterprises. This allows experts to review outputs and incorporate a guided decision-making process, providing comprehensive summaries and analyses of potential financial crime activities – accelerating both efficiency and precision. Genpact engaged multiple riskCanvas clients to significantly improve the detection, investigation, and prevention of a wide range of financial crime threats. As a result, Genpact is now driving accelerated efficiencies and delivering substantial impact for these clients in finance and capital markets, exemplified by their work with Apex Fintech Solutions. "Financial criminals are constantly innovating, which means financial services companies need to use advanced digital technologies to stay one step ahead of them," said Justin Morgan, Head of Financial Crimes Compliance at Apex Fintech Solutions. "With the addition of generative AI features to Genpact's riskCanvas, our analysts will be able to produce Suspicious Activity Report (SAR) narratives and case summaries at the click of a button using inputs from millions of data points. We expect this will reduce time spent on case summarizations by 60%, allowing our analysts to spend more time identifying truly suspicious financial activity." Using approved client data from the secure riskCanvas ecosystem, combined with Amazon Bedrock's secure data handling, enables the generation of highly accurate outcomes while maintaining data protection across clients. "Responsible AI is a core consideration in AI implementation and its importance will continue to increase, said Atul Deo, General Manager, Amazon Bedrock at AWS. Amazon Bedrock is rooted in secure data handling, encrypting all data and allowing users to customize models privately. Integrated with Genpact's riskCanvas, this powerful combination enables our mutual customers to enhance productivity in investigating, detecting, and preventing financial crime threats. The initiative enables clients to fully leverage the potential of generative AI solutions and drive secure, scalable, AI-led transformation. "Data complexity and volume, false positives, and evolving sophisticated criminal tactics are accelerating the need for businesses to harness generative AI to transform financial crime operations," said BK Kalra, Global Business Leader, Financial Services, Consumer and Healthcare, Genpact. "Genpact's expanded relationship with AWS represents a pivotal step in redefining the operations landscape for enterprises. Together we can unlock untapped value, and fuel significant growth opportunities for our clients, solidifying our commitment to delivering valuable business impact." For more information on Genpact's relationship with AWS, visit: AWS | Our Partners | Genpact, and for more information on our financial services visit: AWS Financial Services | Our Partners | Genpact.

Read More

More featured news