How consumer investing fintech Nanovest runs crypto compliance and fraud with LogicLoop

‍Nanovest is a fast-growing consumer fintech. They are an investment super app that lets retail investors buy/sell stocks, ETFs, crypto assets and even send P2P payments. Nanovest’s recent launch has come with increasing hiring and fraud monitoring demands. 

Their VP Engineering, Mohit Bhansali, is a longtime LogicLoop user from his time at Indonesian fintech giant Ula, and wanted to use LogicLoop to stay compliant in onboarding and ongoing monitoring, detect fraud and manage orders. 

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Before LogicLoop

Before LogicLoop, tracking and reviewing suspicious activity was very manual. Relevant data needed to be pulled into a single place and cases needed to be tracked by hand. This was not scalable. 

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Having used LogicLoop before, Nanovest’s VP of Engineering, Mohit was looking for leverage, so that risk analysts could update rules without involving his team. This would be key to reducing the pressure and thrash on his organization. 

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With LogicLoop

Risk and business analysts, Fanny Wiryana and Gerald Logor, have been using LogicLoop across several domains like – 

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• New crypto compliance regulations: Send BAPPEBTI Regulation 8 transaction data to legal teams daily to ensure compliance for audits.
• Onboarding and ongoing checks: Flag insufficient customer balances or users failing KYC checks to account managers through CRMs. Flag large P2P transfers to a risk investigator through a case management system. 
• Fulfill stock and crypto orders: Ensure the queue of unfulfilled orders remains small and flag any orders that are taking longer than expected. 

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Results

Using LogicLoop, the Nanovest team has been able to –

• Create a v1 automated compliance program in weeks, not months, without involving the engineering team on a day-to-day basis
• Improve transparency between data, legal, risk and engineering teams, going from sharing monthly updates to daily reports
• Launch faster than their competitors, by getting ahead of fraudulent activity while not compromising growth

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