Connect Financial Community Update
Good day to all and welcome back to the next installment of our community update. Sometimes I’m curious how many people read this first paragraph or if they skip straight to the next set of dots and the sections with topics…. Either way thanks for being here.
It seems unbelievable, but the last time we got together and had a community question and answer session was almost 12 months ago. The community does a great job of asking insightful questions every week, and it seems like the right time to come together again so you can ask us anything.
We’ve taken part or watched AMA’s in various different formats so the team is currently working on a plan for this so we can manage and deliver the AMA across all our communities. If you’ve got a suggestion on a format (locked telegram channel, temporary discord channels, pre-delivered questions, etc) that you’ve seen work really well just shoot Orange a message with every idea you have.
We are looking to hold it the second week of May, exact time and date will be squared up over the next week.
Keep an eye out in the Discord and Telegram channels for more information about submitting questions and participating in the AMA.
As much as we like to show off slick user interfaces and talk through innovative features and user experiences, in reality a large portion of development work lies in the incredibly-important-but-less-sexy world of security, testing and system hardening.
I saw an interesting thread this week where there was a debate of whether or not new crypto users should embrace self custody and the “not your keys, not your crypto” ethos or take advantage of the convenience, features and utility of centralized exchanges.
Of course, there is space for all types of crypto custody, and individual users need to weigh up the pros and cons on both sides. With that said, as a platform that takes custody of our user’s assets, it is incumbent upon us to share our approach to platform security and risk mitigation.
Behind the scenes, the entire platform is designed and built with platform security as a fundamental value. This approach manifests itself in a number of ways, some technology based and some aligned to internal policy.
For example, on the technology side, asset custody is managed through Multi-Party Computation (MPC). MPC ensures that keys are never held by a single entity, significantly increasing resistance to hacks while still retaining the convenience of instant access to the underlying assets.
Looking at security through a procedural lens sees the platform being designed in a way that delivers compartmentalized modules that are accessed with a principle of least privilege. This means that even our team members never have access to all systems and can only access systems that are relevant to their role and responsibilities.
The MVP product has been designed with better-than-bank level security. When cards launch, our users will have a number of features to minimize the likelihood of fraud and account compromise. For example, multi-factor authentication on account logins and transactions, account whitelisting for external transfers, detailed device logs and IP/Device whitelisting will be available on day one.
Primary Account Page:
From this screen as a user, you can quickly view the account contact linked attributes including email and phone. Both contact methods are locked for account security purposes and for MVP can be changed by contacting support. You also can view the membership tier you have selected and manage your membership if you desire to upgrade or downgrade membership levels.
Your privacy, security and safety of your assets and trust are our top priority. Our security infrastructure team take a holistic approach in protecting your crypto holdings, investments, stored money and crypto card activity. We have built numerous sophisticated measures to prevent the theft of crypto, money and your personal information. We understand the importance of security when you trust your assets with us.
Within the profile section you can view numerous security details including active session, devices and activity, 2FA authentication, and login history. Giving you control over your engagement and peace-of-mind to monitor and manage connected IPs and devices.
Withdrawing assets are further protected with our whitelisted address function. Allowing you to manage and configure withdraw addresses with ease and security.
In addition to technology, our compliance team monitors transactions in near-real time to identify suspicious activity and manually review account activity across the product suite.
As well as managing the daily activity across the platform, our Chief Compliance Officer (CCO) also keeps track of the ever-changing regulatory environment to ensure that our product offering remains compliant to local and international requirements.
We’ve added another UIUX designer recently to the team. Currently they are working at furthering our mobile app landscape analysis and user persona’s. Following this we’ll be driving production into the new mobile app screens. Stay tuned for more showcased UIUX app development.
We are thrilled to share that we have finalized the card packaging for our card tiers one to three. We are very pleased with the sample proofs that have been established and look forward to the manufacturing process in the coming weeks.
Last week we mentioned that we launched an article discussing the history of Fintech and its innovative evolution that is driving financial inclusion worldwide. We’d like to thank all that have engaged with this article — receiving a 23.43% engagement rate and over 1.9K likes. If you missed it, you could check it out here: https://cnfi.me/3iqLOyI
Other articles of interest we have recently published can be found below.
Fintech & Crypto — Bringing a World of Flexibility, Autonomy and Control. — https://cnfi.me/3LPLN4X
Fintech & Crypto — Closing the Gap for the Unbanked and Driving Financial Inclusion Worldwide. https://cnfi.me/3o0Cepy
If you haven’t moved over yet, please come Follow us on our forever Twitter home at https://twitter.com/connect_fintech or become a subscriber at https://cnfi.me/3GiZIgH to be the first to read our fintech and crypto articles, whitepapers, incentives and promotions as they launch.