Single.Earth partners with RegTech Salv to stop financial crime 

By Gloria Methri

Single.Earth has partnered with Salv, the RegTech company founded by Wise and Skype employees to combat financial crime. Salv provides client screening and risk-scoring solutions to mitigate the risk of onboarding users and landowners.

With its origins in Transferwise (Wise), Salv has evolved to help financial institutions upgrade their ability to detect, track, analyse and block financial criminals.

Under its partnership with Single.Earth, the RegTech company will screen persons against different sanctions, Politically Exposed Persons, and adverse media lists to mitigate the risk of landowners and token buyers being high-risk customers.

Salv’s risk scoring solution provides Single.Earth with a holistic view of customers by better understanding their risk levels. These services add an extra layer of security to Single.Earth’s solutions and ensure that criminals don’t exploit the GreenTech’s business.

Merit Valdsalu, CEO and co-founder of Single.Earth, said, “At Single.Earth, we are building a foundation for a future nature-backed financial system, but unfortunately, dealing with fraud and financial crime is part of our daily life. Using our technology and satellite data, we can identify individuals who try to register lands without any mature forests or wetlands capable of removing CO₂ from the environment. However, we will rely on Salv and their industry knowledge to verify the legitimacy of funds and background for users and landowners onboarding our platform.

Taavi Tamkivi, the CEO and founder of Salv, added, “In recent years, the financial technology industry has seen explosive growth; however, innovation always goes in tandem with criminals trying to exploit it for their good. Financial crime, especially fraud, is rapidly growing, and the macroeconomic downturn offers criminals even more room to operate and experiment. We can help Single.Earth ensure there is no shady business behind the landowners and token-buyers, so the company can focus on what they do best — protecting nature.”