New Account Verification Rules – What They Hold for Consumers and Financial Institutions

The payments industry is changing faster than ever. Consumers are welcoming a number of changes and adopting the latest technologies. Customers globally are moving towards an online payments landscape instead of relying on cash and checks. There are over 140 online payment methods available globally. The use of online payments is also giving a boost […]

Open Banking Initiatives Around the World

Open banking has become the “IT” word of the financial industry. But, it is not just for creating hype, open banking has some incredible real-world applications. In case you’re not familiar with open banking, it’s the process of banks and other institutions allowing customers to share their financial data with trusted entities. Open banking/open finance […]

KYC Requirements in Singapore in 2022

Singapore is one of the world’s leading financial hubs and also one of the Asia-Pacific leaders. So, it makes sense that businesses all over the globe want to invest in the Singapore markets. Economic stability makes it an even better option for investors globally. Singapore for years has been following a pro-business attitude that encourages […]

DIRO for a Faster Customer Onboarding Process

How you handle customer onboarding sets the tone for your partnership with the customer. Potential customers will drop the process if you have a clunky and slow onboarding process. This is why it is important for businesses to carefully build a robust customer onboarding process. It does more than offer a good customer experience, it […]

how to secure customer onboarding process

4 Best Ways to Protect Your Vendors’ from Being Attacked by a Cybercriminal

In the public landscape, vendor bank account fraud is growing at an alarming rate. A vendor contacts the accounts team to tell them they haven’t received the payment. The accounts team then checks the data and finds out that they’ve paid the invoices. So, when more due diligence is done, it is found out that […]

Money Laundering and Wash Trading in NFT – Taking a Deeper Look

Wash trading is becoming common practice for a number of reasons. The trader or company may be trying to promote buying to raise prices, or to get people to sell at lower prices. The real reason is that the trader wants a tax refund whenever they engage in wash trading. This helps them in collecting […]

Micro Deposit Verification for Bank Accounts – Alternatives to Micro Deposit Verification

Micro deposits are the legacy system for the verification of customer bank accounts. As far as customers could remember, banks have been using micro deposit verification to verify bank account ownership. But being one of the oldest and most used methods doesn’t mean that it’s the perfect solution. There are some flaws in the micro […]

alternatives for micro deposit verification

Rise of Open Banking – New Innovations for Small and Medium Sized Businesses

Small businesses of today aren’t like the old days, limited to a particular market. Today’s small to medium-sized businesses (SMB) are evolving and leveraging emerging technologies to keep up with the giants. While some businesses are still stuck with old and traditional methods for customer acquisition, capital access, and more. Businesses using digital apps and […]

How does Bank Data Validation Process Work?

Now that the financial industry has completely embraced technologies into their processes, it’s important for them to make sure that payments are error-proof. Customers make mistakes. Instead of trying to teach customers the right way, banks should employ a bank data validation tool. Banks should try to make every part of a customer’s journey as […]

Why Open Banking for Income Verification?

Going through a loan application process is one of the most daunting things you can go through. Whether you’re looking forward to buying a home, or automobile or have to go through a mortgage lending process, you have to sit through this process. The biggest part of the loan approval process is income verification. It […]

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