Guide on Real-Time Payments and Verifying Account Identity

NACHA, the Electronic Payment Association overseeing the ACH network, recently made some changes to its Operating rules regarding ACH payments. Based on the new rules, originators or WEB debit entries are asked to use a “commercially reasonable fraudulent transaction detection system” to verify users for fraud. Beginning on March 19, 2021, the rule will change […]

Verizon 2022 Annual Data breach Report

The 15 year old tradition is still standing strong with this week’s DBIR Annual Report. In the latest data breach report, Verizon highlighted their analysis of over 5,212 breaches and 23,896 security incidents to find the most common trends used by fraudsters. The 4 most commonly used methods include enterprise estates, credentials, phishing, and exploiting […]

Best Payment Options for an Online Marketplace

The marketplace economy is booming and it is becoming a very profitable industry. Currently, Amazon sells more products online every minute than any other store in the world. Now, think of the millions of other marketplace websites online, and how much revenue they generate every single day. It’s safe to say that online shopping has […]

6 Relevant Employment & Income Verification Documents

Sometimes it is not clear what documents are needed to verify an employee. And, therefore, today we will discuss a list of 6 relevant employment and income verification documents that comply with local law. This will make it easier for the employee and the employer to clarify which documents need to be onboarded and verified. […]

A Deeper Insight Into Digital Identity – Transforming the Future of Digital Identity

The world has gone digital. Work, food, education, entertainment, or everything else you can think of has become completely digital. Your digital identity plays a vital role in how your experiences will be online. If you don’t follow the right measures, hackers can get access to your digital identity. Your digital ID can be sold […]

Age Verification: Use Cases, Regulations, and Guidelines

Digital age verification is crucial in this day and age. So in this article, we will talk about how age verification works, different rules and regulations, and minor protection in different parts of the world. Almost everyone can get easy access to digital products and services. According to a survey in 2015, almost 1.46 billion […]

What Is The Importance of KYB and Ultimate Beneficial Ownership (UBO)?

Today’s topic is Know Your Business (KYB) and Ultimate Beneficial Ownership (UBO). We will also understand the need and the importance of KYB – know your business and Ultimate beneficial ownership. There are B2C companies that follow various steps to verify their customers’ identities. This is known as the Know your customer (KYC) process. Other […]

State of Europe Open Banking Revolution

While the open banking APIs are being used commonly in the EU, the APIs in Europe still have a long way to go. There are some fragmentation-related challenges that have to be overcome and several challenges around stability and availability. Open Banking payments still have to reach a tipping point, what is required now is […]

ACH Payment

Payments have come a long way over several decades. All the way back in 1974, people had to carry dimes with them to make calls from payphones, and copies were made on a mimeograph. Over time, payments have changed and so has ACH payment. The ACH payment method has improved with the help of technologies […]

AML and KYC Compliance with Open Banking

Regulatory compliance is the biggest challenge for most financial institutions as it keeps changing. Financial services must have regulations that minimize the risks of customers engaging in illicit financial activities such as money laundering. Every financial institution is aware that collecting and leveraging financial data is costly. The time taken to onboarding customers tends to […]

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