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How is ChainComply different from Chainalysis?
ChainComply and Chainalysis are not competitors.
They are complementary tools targeted at different users with different use cases.
See a quick comparison below:
ChainComply | Blockchain Forensic Tools (like Chainalysis) | |
|---|---|---|
Value Proposition | Triage and rapid risk assessment. AML team efficiency gains on crypto-related cases | Blockchain intelligence and transaction monitoring for combating crypto crime |
On-chain Risk Assessment Capabilities | None. Integrates with established blockchain forensics tools (like Chainalysis) | Proprietary |
Transaction Dataset | Off-chain, crypto exchange account data & On-chain | On-chain only |
Depth of Insight | Holistic, high-level overview | In-depth, end-to-end blockchain intelligence |
Target Audience | Traditional Banks and crypto exchanges’ 1st LOD AML teams | Crypto exchanges’ FinCrime teams. Law enforcement, FIUs |
Target Audience
ChainComply was built with a specific focus in mind: to help AML obliged entities enter the MiCA era.
Chainalysis is a blockchain forensic tool that is most helpful for institutions directly transacting on blockchain and law enforcement.
Depth of Insight
ChainComply: gives banks’ AML teams a holistic, high-level overview of clients' transactions AND a simple way to interpret them.
Chainalysis: provides an in-depth, end-to-end investigative workflow to combat crypto crime. It brings detailed blockchain intelligence.
Transaction Dataset
While on-chain transactions are crucial, they only tell part of the story.
The off-chain, client’s crypto exchange account data provided by ChainComply is not accessible to blockchain forensics tools.
Meanwhile, this off-chain data is essential for accurate risk assessment.
As for on-chain transactions... 👉🏻
Tap Into the Top Blockchain Forensic Tools
Why reinvent the wheel? Instead, we integrate with established blockchain forensic tools like Chainalysis.
This way, as a complementary tool, we give you access to the most comprehensive on-chain insights available.
By building on the extensive on-chain data and risk assessment expertise they’ve accumulated over the years, we can focus on what we do the best, which is... 👉🏻
Enhance Operational Efficiency with ChainComply
ChainComply was designed to 10x the efficiency of the crypto-related enhanced due diligence operations.
Key benefits: Rapid, 5 min decision making thanks to streamlined, case management, automation, and easy-to-use interface.
Users: first line of defence, non-crypto-expert investigators.
Ideal for: Banks seeking to efficiently process a high volume of crypto-related Enhanced Due Diligence cases.
As for very difficult cases... 👉🏻
Investigate In-Depth with Chainalysis
Chainalysis complements ChainComply in in-depth investigations and forensics of complex cases.
Key benefits: Advanced analytics, expert-level capabilities, and suitability for specialised investigations.
Users: blockchain forensics experts.
Ideal for: Mainly crypto exchanges and law enforcement requiring a deep dive into specific on-chain activities or investigating complex fraud schemes; on-chain transaction monitoring.
Which Tool is Better?
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ChainComply and Chainalysis do not compete, but complement each other, offering distinct functionalities to cater to diverse user needs.
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As a crypto exchange, you will be best equipped for MICA with both tools.
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If you are a traditional bank, not directly transacting on-chain, you would probably be better off with ChainComply.
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