The MoneyTrac Technology platform is powered by software technology developed by Virtu Network Solutions and is backed by cutting-edge compliance features through MoneyTrac's joint venture with Compliance Financial Network.

In April of 2017, MoneyTrac executed an exclusive licensing agreement for the utilization of the Virtu Network Solutions software platform and has since configured it for full integration in it's own software platform. 

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Virtu Network Solutions is a provider of E-Wallet technology and e-banking financial solutions for companies operating within "alternative industries." Their technology platform is integrated with Compliance Financial Network (CFN) for tracking and compliance to help companies manage and control the flow of all revenue through their business. This compliance component provides companies with the security of knowing that all local and state regulatory standards are met and complied with, so they can operate at the most effective and efficient level possible. 

a PLATFORM FOR ALL

The Virtual Network Solutions platform is the most powerful, customizable, and extensible platform to manage any financial product, including but not limited to:

  • Core and Traditional Banking Products
  • Mobile, Web, and Bot Banking
  • Prepaid Card, Debit Card, and Credit Card Management. Including Mobile and Web Onboarding.
  • Mobile Wallets
  • Merchant Payment Processing. Including Cards and Mobile Payments (NFC, QRCode, SMS), Topups, and Withdrawals.
  • Biometric Payments and Authentication Management
  • Bill Payments and P2P Payments
  • International Remittances
  • Government Benefits Management
  • Loans Management
  • FOREX
  • SWIFT / ACH / SEPA Payments

Virtual Network Solutions covers all the existing sales and card processing channels including physical facilities, mobile, the web, and platform to platform APIs.

To learn more about Virtu Network Solutions, please click the icon below which will re-direct you to their website. 

oUR COMPLIANCE FEATURES

In 2017, MoneyTrac completed a joint venture with Compliance Financial Network to bolster the compliance features and solutions embedded within its financial technology platform. This exclusive joint venture has given MoneyTrac the ability to offer its clients a platform that is far more robust in compliance-related features than any other platform currently available to businesses in "high-risk" and alternative industries. 

ABOUT CFN

Compliance Financial Network (CFN) brings innovative and unique solutions to the market to serve the many challenged business types across the nation.

As businesses of all types continue to struggle obtaining and keeping depository business banking services to meet the needs of their legitimate businesses. CFN takes a unique approach to assisting these businesses through the various regulatory and compliance maze using a proprietary business processes and an integrated technology platform allowing all the necessary steps in AML/BSA and KYC processes to be followed along with managing the appropriate reports to the appropriate regulatory body's.

 

Integration with leading financial networks

The e-wallet platform can seamlessly interface into existing global financial networks, supporting electronic funds transfers to destinations within the United States, Canada, Europe, Asia-Pacific, The Caribbean and beyond.

Mobile application provisioning

Mobile Users can leverage a single, unified mobile payment platform that delivers a range of payment services, in multiple service delivery formats and currencies to countries worldwide. Mobile app capability includes but is not limited to Money Transfers, P2P payments, Bill payment, Mobile phone top-ups, payments with biometric authentication, and Donation  payments.

Extensive API suite

With our full API suite, you can easily integrate the platform into existing applications such as settlement networks, and commercial back-office solutions. Our APIs also let you select from batch or real-time processing methods.

Extremely User-friendly account management

The payment platform allows for individual and multi-user business accounts. From theend-user’s perspective, the platform provides a secure and private online account interface, e-WALLET / m-wallet, viewing of detailed transactional history and receipting, e-mail notifications, and a suite of consumer-friendly payment functions.

Real-time and Web-based

The payment platform functions in real-time and is accessible from a secure, web-based interface -- providing global access to payment services anywhere in the world, anytime.

Risk management, Compliance, KYC and auditing

The payment platform provides a centralized database for online payments, bill payments, improving risk management for all online transactions. It also includes an extensive set of internal fraud detection processes and 3rd party risk management services.

Supports industry-standard compliance and KYC (know-your customer) services to monitor, block and report suspicious transactions based on established rules, triggers, and anti-money laundering and terrorist financing blacklists (OFAC etc...) Such functionality can be configured on a regional and per-program basis, supporting global jurisdictions based on the financial services requirements.

Compliance regimes are easily managed through the platform’s extensive exception handling and audit capabilities, as well as reconciliation functions and reports.

Reporting

Our platform provides on-demand transactional reporting of accounts. 

Messaging Alerts

Finally, the platform delivers extensive messaging capabilities to notify your end-customers via email, SMS and text messaging of financial transactions and account changes.

 

COMPLIANCE FLOW DETAIL