Tender Description:

Hashbank is seeking proposals from qualified vendors for a Blockchain Analytics Tool to strengthen its compliance, risk management, and transaction monitoring capabilities within the digital asset ecosystem. The solution should enable end-to-end blockchain intelligence — including coverage of major blockchains and stablecoins, advanced transaction tracing, and comprehensive wallet risk analysis.

The objective is to enhance Hashbank’s ability to detect, assess, and mitigate financial crime risks such as money laundering, fraud, sanctions violations, and illicit blockchain activity. The platform should support AML/CFT compliance, integration with international sanctions lists, and readiness for FATF Travel Rule implementation in Georgia by 2027.

The requested solution must provide robust data security, flexible deployment options, and seamless integration with existing compliance and core banking systems. Vendors should demonstrate strong blockchain coverage, accurate risk detection, and scalable analytics capabilities to support both regulatory reporting and internal investigations.

The purpose of this document is to inform the bidders about the purchaser's requirements and conditions for the submission of a complete tender proposal.

Tender Process Timeline:

Tender Announcement: November 10, 2025
Submission Deadline for Proposals: November 24, 2025

The purchaser reserves the right to suspend, terminate, and/or announce a new tender at any stage of the process, at its sole discretion and without prior notice or agreement with the bidder(s). 

Information regarding the suspension or termination of the tender will be made available on the tender announcement portal.

The purchaser also reserves the right to amend or expand the scope of services/procurement requirements prior to signing the contract with the selected bidder. Any such changes will be published on the tender announcement portal.

2. Scope of Work:

The proposed solution should include, but not be limited to, the following capabilities:

2.1 Blockchain Coverage & Monitoring:

• Comprehensive coverage of major blockchains (e.g., BTC, ETH, Tron, and Layer 2 protocols)
• Monitoring and analysis of transactions across multiple networks, including stablecoins (USDT, USDC, etc.)
• Detection and visualization of cross-chain movements and smart contract interactions
• Real-time transaction tracking with address clustering and entity attribution
• Ongoing updates to include emerging chains and assets

2.2 Compliance & Sanctions Screening:

• Automated integration with OFAC, EU, UN, and UK sanctions lists
• Frequent updates to sanctions and high-risk entity databases
• Identification of wallet exposure to sanctioned or blacklisted entities
• Readiness for FATF Travel Rule compliance, including local regulatory adaptation for Georgia by 2027
• Automated flagging of potential AML/CFT violations

2.3 Risk Detection & Analytics:

• Detection of transactions involving mixers, tumblers, or anonymizing tools
• Wallet and transaction risk scoring based on behavioral and network analysis
• Identification of darknet exposure, ransomware activity, or high-risk patterns
• Machine learning–based anomaly detection for suspicious activity
• Advanced visual analytics for tracing illicit transaction flows

2.4 Data Security & Residency:

• Data storage options with configurable residency to comply with local regulations
• End-to-end encryption of customer and transaction data
• Clear data retention and deletion policies in line with regulatory standards
• Comprehensive audit trails and immutable logging mechanisms

2.5 Integrations & Reporting:

• API-based integration with existing compliance, AML, and core banking systems
• User-friendly dashboard for investigators and compliance officers
• Customizable reporting templates for regulators and internal teams
• Automated alerts and audit logs for suspicious or high-risk activity
• Periodic data refresh and synchronization with real-time blockchain updates

2.6 Deployment & Scalability:

• Support for both cloud-based and on-premises deployment
• High scalability to handle large transaction volumes and multiple blockchains
• Flexible architecture supporting multi-user access and role-based permissions
• Secure authentication and access control mechanisms

3. Vendor Requirements:

Interested vendors must meet the following qualifications:

• Proven experience in delivering blockchain analytics and AML/CFT compliance solutions to financial institutions or regulatory bodies
• Demonstrated expertise in blockchain forensics, transaction tracing, and on-chain data analysis
• Compliance with international standards and regulations, including FATF, GDPR, Basel III, and applicable data protection laws
• Ability to provide ongoing technical support, software maintenance, and regular updates reflecting evolving blockchain ecosystems and regulatory changes
• Established data security framework and proven capability to ensure data confidentiality, integrity, and availability
• Availability of referenceable clients (preferably in the banking, fintech, or government sectors)
• Capacity to deliver training and knowledge transfer sessions for compliance and risk management teams
• Strong localization readiness, including regional regulatory awareness and support for future FATF Travel Rule implementation in Georgia

4. Proposal Submission Requirements:

Vendors should submit a comprehensive proposal including:

• General Information (Annex #1)
• Company Profile - Background, financial stability, and expertise.
• Solution Overview - Detailed description of platform features, blockchain coverage, risk detection capabilities, technology stack, and deployment architecture.
• Implementation Plan - Deployment timeline, milestones, integration approach, and resource requirements.
• Security & Compliance - Data protection measures, encryption standards, access controls, compliance with FATF, GDPR, and other relevant regulations.
• Support & Maintenance - Post-implementation support plans, including updates, technical assistance, and training programs.
• Pricing – Detailed breakdown of licensing, setup, and ongoing costs. (Annex #2)
• Client References – At least three financial institutions using the solution.

5. Evaluation Criteria:

Proposals will be evaluated based on the following criteria:

• Functionality & Features (25%) - Extent to which the solution meets the Bank’s blockchain analytics, transaction monitoring, and risk management requirements.
• Scalability (5%) - Ability to handle growing transaction volumes, multi-chain coverage, and increasing regulatory demands.
• Integration  (13%) - Ease of integration with existing core banking systems, payment gateways, AML/KYC platforms, and third-party compliance databases.
• Security & Compliance  (12%) - Adherence to data protection regulations, encryption standards, role-based access controls, MFA, and international compliance frameworks (e.g., FATF, GDPR, Basel III).
• Implementation & Support (13%) - Quality of deployment plan, timeline, training, and ongoing customer support.
• Knowledge Transfer & Consulting  (12%) - Effectiveness of training, documentation, and guidance for internal teams to launch, configure, or update blockchain monitoring indicators, behavioral models, and analytical parameters.
• Cost  (20%) - Competitive pricing, including licensing, setup, optional modules, and total cost of ownership (TCO).

6. Grounds for Disqualification:

The purchaser is authorized to disqualify a bidder if:

• The bidder is listed in the register of debtors;
• The bidder’s property is subject to a registered tax lien, mortgage, or other encumbrance/restriction;
• The bidder is undergoing reorganization, liquidation, or insolvency proceedings;
• The documentation/information required by the tender application is:
  - Not fully submitted;
  - Not in compliance with the specified requirements;
  - Inaccurate or inconsistent with actual facts;
  - Falsified.
  - Refused provide demo account and/or other materials/instructions to duly support the application selection process
• There are other objective circumstances that make the bidder's further participation in the tender impossible.

Confidentiality:

The bidder shall be responsible for maintaining the confidentiality of any information provided by the purchaser, both during the selection process and after its completion, regardless of the outcome of the tender.

7. Submission Process:

The submission of tender proposals shall be carried out electronically through www.tenders.ge, in accordance with the sealed envelope principleTender proposals must be submitted by no later than 18:00 (Georgian local time) on November 24, 2025.

Tender Submission Terms:

• Offers should be submitted on procurement web-page: www.tenders.ge
• Submission Deadline is: 24/11/2025 ; 18:00 PM 
• Bid currency: N/A
• Auction type: Without auction
• Instructions to Apply for E-Tender can be found in the attached file
• Any question during the electronic tender process shall be made in writing and communicated through the Q&A platform of www.tenders.ge website

8. Additional Information:

For any questions or clarifications, vendors may contact Salome Khorguashvili at [Salome.khorguashvili@hashbank.ge]; Salome Metreveli at [Salome.metreveli@hashbank.ge] or Diana Kadaria at [diana.kadaria@hashbank.ge] Tel: +995 551 67 74 67, by November 24, 2025

We look forward to receiving your proposals.

ტენდერის კატეგორია:

• 72300000 მონაცემთა მომსახურება
• 72200000 პროგრამული უზრუნველყოფის შემუშავება და საკონსულტაციო მომსახურებები