Customers Onboarding Under KYC & AML Requirements

Financial institutions have to comply with various AML, CFT, and KYC regulations while onboarding customers. Businesses operating in the financial industry have to provide a risk assessment to their new customers. The reason why these compliances are vital is to enable companies to identify the level of risk a customer poses to the business. They […]

Remote Customer Identification in Banking

The banking process has been evolving, and the pandemic has forced the banking industry towards digital transformation. While the integration of technology has made some things easier, some banks and financial institutions take things one step beyond. Instead of using normal yet effective identity verification solutions, banks overcomplicate the process with biometrics and other not-needed […]

What is Signature Verification?

The widespread use of digital signatures has raised tons of questions. Most of these questions are related to user security. Numerous individuals and businesses see the benefit of transitioning from the traditional method of signing documents. The traditional method requires printing, scanning, hand-signing, and re-scanning of the documents and they are a huge security threat. […]

Steps to Streamline KYB Process

To ensure the success of a business and the elimination of fraud, effective KYB measures need to be established throughout the organization. The Know Your Business (KYB) process begins with the onboarding of corporate clients and since the pandemic, the integration of digital solutions has become a vital step for KYB compliance. Regardless of the […]

Tips to Protect your Business from Scammers

Businesses of all kinds face various internal and external attacks that can harm the businesses financially and in other ways. False invoices, money laundering, and phishing attempts are some of the most common examples of fraud. With the whole world forced to shift toward digital transformation, online scams aimed at businesses are getting more sophisticated. […]

Open Banking in 2022: What To Expect?

2021 has been kind of a relief for people all over the world trying to tackle the wave of the COVID-19 pandemic. Now that most parts of our day-to-day are becoming normal, will banks revert back to their old selves or keep on pushing with digital transformation and innovation? All the evidence suggests that banks […]

EU Money Laundering Action Plan

The European Union launched an ambitious and multi-featured action plan for tackling money laundering. This plan sets out concrete measures for banks, financial institutions, credit unions, and other businesses operating in the financial industry. These set of rules and regulations are built to ensure better enforcement, supervision, and coordination of the European Union’s rules on […]

Water Bill Verification for Proof of Address

There are times when you need to verify your residency, and an ID document isn’t enough. You may need to provide multiple documents to authenticate your address. The proof of address verification process is a crucial part of maintaining security in businesses. Businesses want to verify a customer’s proof of address to make sure they […]

Simplifying the KYB Process for Faster Client Onboarding

As fraud continues to rise, the regulations around the world keep evolving to keep up with the constant threat. Several of these regulatory changes require companies, financial institutions, and others to verify businesses and Ultimate Beneficial Owners (UBOs) that they interact with on a daily basis. The process of verifying business identities and UBOs is […]

Use of Biometrics for Improved Onboarding Experience

The pandemic has changed a lot of ways we do basic activities. The retail space, banking, education, hospitality, and several other industries took the brunt of the pandemic. Fortunately, the reliance on technology improved how we used to do basic activities. These technologies have specifically increased the efficiency of customer onboarding and employee onboarding. So, […]

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