Scaling Prosper's Compliance Processes with Comply Advantage: A Case Study

by Prosper

As the world of digital currencies continues to grow, so does the need for secure and compliant payment solutions. At Prosper, we specialize in providing a crypto to fiat payment solution that ensures our clients are able to conduct transactions with ease and peace of mind.

To further strengthen our compliance processes, we decided to work with Comply Advantage, a leading provider of anti-money laundering (AML) and know your customer (KYC) solutions. Here is a case study of our experience working with Comply Advantage.

The Challenge

As a provider of crypto to fiat payment solutions, our clients require us to comply with a complex and ever-evolving set of regulatory requirements. We needed to ensure that we were adhering to AML and KYC guidelines to avoid regulatory issues and maintain our clients' trust.

We were also facing a challenge in scaling our compliance processes to keep up with the growing demand for our services. Manual AML and KYC checks were time-consuming, and we needed a more efficient solution.

The Solution

After conducting extensive research, we decided to partner with Comply Advantage. Their AML and KYC solutions offered the following benefits:

  1. Real-time monitoring: Comply Advantage's technology enabled us to perform real-time checks on individuals and entities, ensuring we were up-to-date with any changes in their risk profile.

  2. Comprehensive global coverage: Comply Advantage provided us with access to an extensive global database of sanctions, watchlists, and politically exposed persons (PEPs), ensuring we were able to identify and flag any high-risk entities or individuals.

  3. Automated processes: Comply Advantage's technology allowed us to automate many of our compliance processes, freeing up time and resources to focus on other areas of our business.

The Result

Working with Comply Advantage enabled us to streamline our compliance processes and reduce the risk of regulatory issues. We were able to scale our business and onboard new clients more quickly, without compromising on our compliance obligations.

Thanks to Comply Advantage's real-time monitoring and comprehensive coverage, we were able to identify and flag potential risks quickly and efficiently, allowing us to take appropriate action and avoid any issues.


As the regulatory landscape for digital currencies continues to evolve, it's essential that companies like Prosper take their compliance obligations seriously. By partnering with Comply Advantage, we were able to ensure we were meeting our regulatory requirements while also streamlining our processes and scaling our business.

If you're looking for a reliable and efficient AML and KYC solution, we highly recommend working with Comply Advantage. Their technology and expertise are second to none, and they have been instrumental in our success at Prosper.


Frequently asked questions

How do I create an account?

Sign up for a Free Prosper account in less than 10 seconds. No passport verification needed:

  1. Go to Create Account

  2. Fill in the required information

  3. Tap on Create account

  4. Done, you now have an account

Deposit up to €250 and start trading immediately! Verify your identity to increase deposit and withdrawal limits.

What are the fees?

Prosper's trading fees are the lowest in the industry. Create a Free account and start trading crypto for as little as 0.03%. There is no minimum volume commitment. The minimum order size is €10.

How do I verify my identity?

After creating an account you can verify your identity. This process is fairly simple and can be completed in less than a minute.

  1. Go to Account

  2. Tap on Identification

  3. Tap on Verify identity

  4. Follow the steps on screen

  5. Done, in a few minutes your identity will be verified

During identity verification you’ll be asked to make a selfie photo and a photo of your identity document (e.g. passport).

Please note: that all submitted pictures must be of the actual physical document (e.g. passport). Taking pictures of a screenshot will be automatically rejected, requiring you to start over.

How do I add a payment/payout method?

Payment and payout methods are considered the same. Currently we support iDeal and SEPA. We intend to add more payment methods in the coming months.

When you do a deposit, your payment method is automatically saved and connected to your account. To do a deposit follow the steps below:

  1. Go to Create

  2. Tap on Deposit

  3. Tap on Fiat currency

  4. Enter the amount you wish to deposit

  5. Tap on your desired payment method and follow the selected steps below:

I’ve chosen iDeal

  1. Select the bank you wish to use to deposit

  2. Tap on Deposit with iDeal

  3. Follow the steps in your banking app or website

  4. Done, you will automatically be returned to Prosper after the payment

iDeal deposits have a maximum of €10.000 per transaction. The balance is reflected within 1-3 business days in your Prosper account after a successful payment.

I’ve chosen SEPA

  1. Create a new SEPA payment in your banking app or website

  2. Copy and paste the bank information

  3. Copy and paste the payment description. Please note: without this your payment will be automatically returned to your bank account.

  4. Verify the payment details

  5. Transfer the amount as you would normally

SEPA deposits have a maximum of €50.000 per transaction. The balance is reflected in your Prosper account within 1-3 business days.

How long does it take to receive a payment into my account?

Prosper currently supports iDeal and SEPA. We intend to add more payment methods in the coming months.


iDeal payments reflected within 1-3 business days in your Prosper account after a successful payment. There is a limit of €10.000 per transaction.


SEPA payments are reflected in your Prosper account within 1-3 business days. There is a limit of €50.000 per transaction.

How long does it take to payout to my bank account?

Bank payouts are performed with SEPA.

Typically it takes 1-3 business days for your withdrawal to be received on your bank account.

Please note that during weekends and bank holidays payments are not processed by the banks. You can create withdrawals, however they will be processed on the next business day.

How secure is it?

We work with industry leading partners such as Chainalysis and Comply Advantage to detect fraud, money-laundering and terrorist financing.

We are registered and regulated by the Dutch Central Bank (DNB) as a cryptocurrency provider. 

All our data is encrypted and stored on cloud-based systems.

Can I change my account type at any time?

You can change or cancel your account type from Standard to Pro at any time. To change your account follow the steps below:

  1. Go to Account

  2. Tap on Subscriptions

  3. Tap on any of the subscriptions to change your subscription or downgrade it to free

  4. Tap on Confirm to confirm your choice

Subscriptions are paid up front per 30 days. If you change your subscription before the end of your subscription period, you forfeit the remaining amount of your subscription fee.

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