1. The Compliance Rating Framework

1.1 The Traffic Light Color Coding

PayRate42 has established a unique review and rating system, aptly termed CyberFinance, to assess financial service providers in the digital realm. We also subsume crypto services under the term financial services and therefore recommend their providers.

Our system utilizes a traffic light color coding to offer clear guidance for potential clients and partners:

  1. Green: Represents a provider with good standing and low risk.
  2. Orange: Indicates some concerns, posing moderate risks.
  3. Red: Signifies substantial concerns with high risks.
  4. Black: Black is used for companies acting illegally.

Our evaluation encompasses compliance, legal security, and transparency based on website information, regulatory warnings, customer reviews, and financial data.

1.2 Customer Reviews & Ratings

Furthermore, PayRate42 incorporates a secondary layer of assessment through customer reviews and star ratings, similar to Trustpilot’s model.

We believe this dual approach of professional compliance rating and customer feedback offers a comprehensive insight into financial service providers.

2. Compliance Criteria Guideline

2.1 Green Signal

Green SignalHigh Trust Level

2.2 Orange Signal

We include a financial services provider in our Orange Signal compliance list based on the following findings:

    2.3 Red Signal

    2.4 Black Signal