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How SkyInsights Can Cut Crypto Compliance Costs In Half

Crypto compliance is crucial for organizations deemed virtual asset service providers (VASPs) by the patchwork of regulations that apply to the blockchain industry. Yet as requirements grow, so too do the costs of the infrastructure and tools needed to meet regulatory guidelines. Over the years, key players in the space have increased prices year over year for services and decreased support for the compliance teams that need it the most.

How SkyInsights Can Cut Crypto Compliance Costs In Half

When compared to major platforms that grow more expensive and resource-intensive by the year, SkyInsights provides an equal or greater service offering for crypto compliance teams. With a cost-effective pricing model that does not include hidden fees or terms, and with an optimized workflow design in an all-in-one tool box, SkyInsights is a game-changer in crypto compliance and risk management that can cut your compliance costs by as much as half. The platform offers a suite of tools designed to streamline operations, reduce platform costs, and ultimately save businesses significant resources.

Crypto Compliance Tools Comparison Chart

Note: Price comparison is based on equal or similar volume-based pricing; price comparison is based on entry-level pricing, these numbers are subject to change and do not account for discounts, bundles, or other promotions.

Savings on Operational Costs

Operational costs can quickly spiral out of control when managing crypto compliance manually. SkyInsights tackles this issue head-on with automation and expert support:

  • Automate Your Day-To-Day Workflows

    Create and assign cases to different team members with queue management or SkyInsights monitoring groups. No more manual tagging or routing alerts.

    For example, your “High-Risk Queue” can have its own set of rules. Alerts only go to specific agents for review, escalation, and resolution.

  • Expert Support & Data Quality For Your Compliance Team

    Built-in best practices and rule sets from regulating agencies to meet global regulatory guidance. We maintain, validate, and update guidelines and labels on your behalf, minimizing the overall number of alerts and reducing false positives.

    SkyInsights is updated in real-time with the latest rules from the Financial Crimes Enforcement Network (FinCEN), guidelines from the Financial Action Task Force (FATF), and sanctions alerts from the Office of Foreign Assets Control (OFAC).

  • Faster SARs & STR Filling

    The time it takes to File Suspicious Activity Reports (SARs) and Suspicious Transaction Reports (STRs) has been reduced from days to hours.

    SkyInsights can identify sanctions exposure immediately and auto-populate case material, generate narratives, and download a ready-to-submit filing package with full case details, notes, and attachments.

Savings on Platform Costs

SkyInsights also offers significant reductions in platform costs:

  • Lower Price Per API Call

    Industry-leading affordability in wallet screening and transaction monitoring.

    Packages start at $499/m, and the cost per query is as low as $0.02.

  • Lightning-Fast Performance

    Use one of the world’s largest wallet-label and accurate databases to screen higher volumes without performance degradation or throttling.

    SkyInsights supports 24 blockchains, 1.2 billion tagged wallet addresses, more than 1 million tokens, and industry-leading API response times.

  • More Products and Features Built-In

    Compliance, forensics, and due diligence tools are all built into the platform.

    SkyInsights helps you identify and flag addresses with the rules engine, investigate hacks and scams with the transaction flow analyzer, and review on- and off-chain data of 4000+ VASPs.

SkyInsights is a comprehensive crypto compliance and risk management solution that reduces costs and greatly improves efficiency. By automating day-to-day workflows on a platform that's both cost-effective and feature-rich, SkyInsights is the go-to tool for firms that want to leverage the simplest, most effective crypto compliance and risk management platform.