Trusted vendor to financial institutions expanding fraud detection, cybersecurity and compliance platform to digital currencies space as FIs look to protect customer holdings
VANCOUVER (May 19, 2022) – INETCO Systems Ltd. (“INETCO”) has added Francisco Maroto, Head of Blockchain & Digital Assets at BBVA, and former Netcoins President and current Madali Ventures CEO Mitchell Demeter to the company’s Advisory Board to support the next stage in the evolution of INETCO’s fraud detection, cybersecurity and compliance platform. The moves come at a time when the company is adding a digital currency transaction protection solution that will allow financial institutions to advance digital currency offerings to customers safe from fraud and manipulation.
“We are a proven and trusted vendor to top tier financial institutions around the world,” says INETCO CEO Bijan Sanii. “They are looking at ways to help their customers hold and manage digital currencies in their portfolios, as well as advance the establishment of government-backed digital currencies. None of this will happen unless the banks can assure their customers that these products are safe, and INETCO’s software provides that safety net.”
INETCO’s platform has unique abilities to predict, detect and block fraudulent payments, insider fraud transactions and advanced persistent threats in real-time. Our INETCO Insight® and INETCO BullZAI® products are sold to financial institutions and Fintechs around the world including Moneris, PT Alto and Fiserv. Launching in Q4-2022, INETCO’S digital currencies offering will enable banks and financial institutions to conduct safe, trusted and regulatory compliant digital currency transactions. It will be the first solution to provide financial institutions with both fiat and digital currency solutions on a single platform.
Francisco Maroto is the Head of Blockchain & Digital Assets at Clients Solutions Strategy at Spain’s BBVA, one of the largest banks and financial services companies in the world. He acts as a program manager in blockchain and crypto projects, helping define the blockchain strategy at BBVA at a global level. Previously, Francisco was responsible of Swift Global Centre at global operations, leading the effort of payments and Swift-related projects such as SEPA migration, Bizum or Swift GPI.
Mitchell Demeter is President, Chief Executive Officer and Director of Madali Ventures, a cryptocurrency payments company with a focus on global remittances using blockchain technologies. He was previously the President of Netcoins Inc., a leading Canadian online cryptocurrency brokerage. A serial entrepreneur, he brought the world its first Bitcoin ATM and first physical Bitcoin brokerage in 2013.
“Francisco and Mitchell provide proven experience with the technology and solutions we have built and will sell to our banking customers,” Sanii says. “Each brings a unique customer perspective and set of relationships to our team that will be critical as we execute on this exciting expansion of our product offering to existing banking customers and beyond.”
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