Wolters Kluwer and NYDIG are working together to strengthen financial institutions’ bitcoin programs

MINNEAPOLIS–(BUSINESS WIRE). for bitcoin programs. Wolters Kluwer is able to provide regulatory compliance solutions and services ranging from a deposit disclosure program to regulatory risk assessments for institutions wishing to offer their clients access to NYDIG bitcoin services.

This collaboration grants Wolters Kluwer the rights as the exclusive provider of Bitcoin Deposit Disclosure Program NYDIG accounts to those financial institutions that seek deposit documents when their clients open an NYDIG account.

The Bitcoin Deposit Disclosure Program provides compliant content required for US banks and credit unions to compliantly offer NYDIG’s bitcoin program. By leveraging the NYDIG platform with Wolters Kluwer compliant content, US banks and credit unions gain the confidence to meet the growing mainstream interest in Bitcoin to retain and grow their customer base and increase interest-free income opportunities.

“We are excited to partner with an innovative financial technology company like NYDIG to support their growth while operating securely and compliantly,” said Steve Meirink, executive vice president and general manager for Wolters Kluwer Compliance Solutions. “With regulatory scrutiny and oversight expected well into the future, our robust team of legal and compliance professionals will continue to monitor and update our compliance content. Financial institutions that work with NYDIG will benefit from this collaboration and provide them with confidence that their disclosures are compliant and meet their regulatory obligations.”

“This important relationship illustrates why many financial institutions have chosen NYDIG as their digital asset partner. If you’re a financial institution, the process of figuring out how to provide access to Bitcoin is more than just an exercise in technology, it’s in compliance and regulation,” said Patrick Sells, NYDIG’s Chief Innovation Officer. “Wolters Kluwer’s knowledge and experience in providing regulatory risk assessments and deposit disclosures to U.S. financial institutions – and his understanding of key U.S. regulatory issues related to digital assets – is critical to the industry.”

Wolters Kluwer Compliance Solutions is a market leader and trusted provider of risk management and regulatory compliance solutions and services to US banks and credit unions, insurers and securities firms. The company, part of Wolters Kluwer’s Governance, Risk & Compliance (GRC) department, helps these financial institutions efficiently manage risk and regulatory compliance obligations and gain the insights needed to focus on serving their customers better serve and grow their business.

Wolters Kluwer’s GRC department offers a range of expert solutions to help financial institutions manage their regulatory and risk-related obligations. iLien Motor Vehicle from Wolters Kluwer Compliance Solutions takes care of the processing and management of motor vehicle titles and liens, helping to solve the most unique and complicated title perfection challenges. Its OneSumX® for Regulatory Change Management tracks regulatory changes and organizes them to create structured, value-added content via a single data feed coupled with an easy-to-use software solution. Meanwhile, Wolters Kluwer Finance, Risk & Regulatory Reporting (FRR) is a global leader in providing integrated regulatory compliance and reporting solutions. The division’s legal solutions divisions are Wolters Kluwer CT Corporation and Wolters Kluwer ELM Solutions.

About Wolters Kluwer Governance, Risk & Compliance

Governance, Risk & Compliance is a division of Wolters Kluwer that provides legal and banking professionals with solutions that help ensure compliance with ever-changing regulatory and legal obligations, manage risk, increase efficiency and achieve better business outcomes . GRC offers a portfolio of technology-enabled expert services and solutions focused on regulatory compliance, legal operations management, banking product compliance and banking regulation compliance.

Wolters Kluwer (AEX: WKL) is a leading global provider of information services and solutions for professionals in the healthcare, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported annual sales of 4.6 billion euros for 2020. Headquartered in Alphen aan den Rijn, The Netherlands, the company serves customers in over 180 countries, has offices in over 40 countries and employs 19,200 people worldwide.

About NYDIG

NYDIG provides Bitcoin technology and financial services solutions to banks, insurance companies, corporations and institutions. The company and its products meet the highest regulatory, auditing and governance standards in the industry. Learn more at nydig.com or connect on LinkedIn and Twitter.