Security and compliance
At Noba, we take security and compliance very seriously. We verify the identity of our users to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations, and to keep our partners, users, and our platform secure.
Identity verification enables us to confirm that a user is who they say they are, as well as verify that the user is not located in a sanctioned country, on a sanctions list, and/or on a criminal watchlist.
Regulators and law enforcement agencies around the world are increasingly focused on identity verification, fraud prevention, and sanctions screening in the context of cryptocurrency transactions and business models.
There are many recent examples in the news of cryptocurrency companies running afoul of regulatory expectations and paying a steep price for lax practices or failure to implement a compliant solution.
A platform that does not build compliance into its user experience is accepting a major risk that Noba is not willing to accept on behalf of our partners and users. Instead, we have built for the future and embedded best-in-class controls into our products to make our services safe, secure and compliant. We believe this is a winning proposition.
Noba’s identity verification program is proven to increase our partners’ conversion rates and drive revenue. When a platform collects no or little identity information from a user, this typically results in high failure rates.
Fortunately, we have also designed our identity verification process to be so quick and easy that there is no negative impact to the user experience.
Of course, we also take information security seriously and have built security into all aspects of our user experience. Our security measures are designed to protect information from accidental loss and unauthorized access, use, alteration or disclosure. Our environment leverages cloud technologies to allow us to detect and react to meaningful security events as well as encryption to ensure confidentiality of user information.
To learn more about identity verification and other security and compliance measures at Noba, please visit our Help Center.