SAN FRANCISCO, CA, Oct. 25, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – APT Systems, Inc. (OTC Pink: APTY), a fully-reporting, publicly-traded, fintech company, announced today it has begun testing its new KYC (Know Your Customer) and AML (Anti-Money Laundering) system and reports, to ensure its compliance with regulators. The Company’s application approval and support received from key third party data providers was critical to our business plan.
Cutting edge solutions like the ‘instant identity feature’ are delivered electronically and incorporate data designed to mitigate potential risks around and for members and vendors.
Verifundr instant electronic identity covers four key areas and is backed with intelligent due diligence processing:
· Member Acceptance Policies
· Member Accreditation Procedure
· Monitoring of Transactions
· Risk Management and Reporting
Advanced analytic solutions significantly improve screening processes that are the mainstay of our trusted financial ecosystem which management is committed to create and sustain. We can use software to help accredit members by using parameters that include sources of funds and business interests.
KYC and AML also serve as a check and balance for the private exchange that accepts fiat currency, converts US dollars to Spera digital dollars, which can be stored or used for escrow, payments, and related activities.
Spera is a stable coin which is essential for certain things to function properly, like cryptographically guaranteeing contracts on the Blockchain. Stable coins also ease the path toward real-world commerce. We can all agree that it is currently difficult to buy a pizza with a coin that could drop 30% in value the next day. While we are not reinventing banking, it is hoped that our solutions prove helpful to members and allow them the flexibility to move easily around an ever merging fiat and cryptocurrency world.
A link to the White Paper and additional details are available by visiting our Online Investor Kit at http://www.aptsystemsinc.com/online-investor-kit-for-apt-systems-inc-apty/. Planned additions to the Verifundr platform will allow for deeper integrated experiences readily permitting members to acquire, trade and hedge.
About APT Systems Inc.: APT Systems Inc. is a financial technology company that is developing platforms, including trader access to proprietary charting tools, via the KenCharts application, and plans to launch its innovative trading application, Intuitrader. Verifundr is an escrow and payments platform and Tyrtrade is an interchange for minting and delivering Spera, a stable coin. Management also strategically reviews other compatible financial businesses which demonstrate strong growth potential. We are continuing our diligent search for software products that would enhance our operations. Management launched its subsidiaries SNAPT Games, Inc. and RCPS Management, Inc. to further facilitate new products, acquisitions, and long-term goals.
Disclaimer - Forward Looking Statements: This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements; projected events in this press release may not occur due to unforeseen circumstances, various factors, and other risks identified in a company's annual report on Form 10-K and other filings made by such company. APT Systems, Inc (APTY) may opt to also disseminate information about itself, including the results of its operations and financial information, via our website and social media platforms such as Facebook, LinkedIn, and Twitter.