Case Study
KYC
KYC
AML
AML
Biometrics
Biometrics
Fraud
Fraud

Unifying and automating KYC across multiple jurisdictions

KYC
KYC
AML
AML
Biometrics
Biometrics
Fraud
Fraud
The customer
Industry
Location
Crypto
Global
Customers
>1 million

With extraordinary growth in cryptocurrencies, digital assets exchanges like Zipmex have been experiencing exponential growth, both expanding into new markets and new product lines. This growth demands highly scalable infrastructure and compliance processes, while maintaining strong customer engagement through a frictionless, digital experience.

Zipmex is headquartered in Singapore and grew quickly to serve the Asian market offering services in Indonesia, Thailand, Singapore and Australia. This growth posed a challenge, however, with unique compliance requirements in each new market.

The challenge
  • Manual KYC involving multiple systems
  • Constraint on rapid expansion to new jurisdictions

Despite extraordinary growth linked to widening adoption of cryptocurrencies, Zipmex’s manual KYC process was constraining their ability to scale quickly across multiple geographies. Prior to implementing FrankieOne, KYC for each customer was a manual, labour-intensive process, requiring manual orchestration of multiple data sources and systems.

"We chose FrankieOne for its global capability and focus on customer experience. We aim to empower everyone to experience the digital assets world, so having an easy-to-use onboarding experience that minimises friction, while optimising for wide access to our platform, was our most important consideration. We also needed to make sure we weren’t exposed from a risk and compliance perspective as we grow into new regions that have unique KYC and AML requirements. FrankieOne was the only platform that offered the robust security and global coverage we needed, without compromising on customer experience.”
Jonathan Low
Chief Commercial Officer, Zipmex
The FrankieOne solution

FrankieOne’s global coverage offers:

  • Automated KYC
  • Expansion into 4 diverse jurisdictions
  • Unified view

Zipmex was able to quickly implement FrankieOne’s platform into its customer onboarding experience, with the first jurisdiction going live in 44 days. With FrankieOne, Zipmex was able to configure unique KYC workflows for each of their four existing jurisdictions and retain flexibility to easily add more as they expand into new markets. This allows them to ultimately replace manual, labour-intensive KYC with automatic verification of most new customers. For the small remaining percentage of customers who require additional verification, the customer service team is able to access a single, unified view through FrankieOne.

With rising interest in cryptocurrencies globally, there is unprecedented demand for established digital assets exchanges like Zipmex to expand even further than Asia. With FrankieOne, Zipmex has access to over 160 data providers covering 48 countries and can easily configure workflows for unique compliance requirements in each jurisdiction.

However, the surge of interest in cryptocurrencies has also presented challenges for digital assets exchanges beyond scalability and being expansion-ready. Customers expect these exchanges to lead the way in digital customer experience given the origins of cryptocurrencies as a digital alternative to traditional fiat currencies and investments. Customers also expect strong security and privacy measures that have become synonymous with the cryptocurrency movement. FrankieOne’s platform is uniquely positioned to support digital asset exchanges with our focus on customer experience alongside robust compliance trusted by major banks and financial institutions.

Jonathan Low, Chief Commercial Officer of Zipmex,, chose FrankieOne’s solution for “its global capability and focus on customer experience. We aim to empower everyone to experience the digital assets world, so having an easy-to-use onboarding experience that minimises friction, while optimising for wide access to our platform, was our most important consideration. We also needed to make sure we weren’t exposed from a risk and compliance perspective as we grow into new regions that have unique KYC and AML requirements. FrankieOne was the only platform that offered the robust security and global coverage we needed, without compromising on customer experience.”  

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