Blogs
Building the future of fintech.
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 […]
Read more
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, […]
Read more
US Digital Banking Revolution: Importance of Digital Identity
While most of the banking landscape across the country was on track toward a successful digital banking revolution, the Covid-19 pandemic fast-tracked the process. Regardless, some parts of the US financial industry are still operating in the dark. As the United States is often at the forefront of many things, it doesn’t make sense that […]
Read more
Identity Verification Process for Crypto Exchanges
Since the beginning of 2021, cryptocurrency exchanges have been growing at an alarming pace. And there are over 100 million crypto users in January 2022 itself. While the market has slowed down, the crypto industry is still growing, and chances are there will be another huge spike in the number of customers. To handle these […]
Read more
Understanding Electricity Bill Verification
Businesses should never undermine the importance of utility bill verification. Electricity bill verification is the first and foremost step in an exhaustive identity verification process, especially for companies dealing with financial data. The threat of identity theft is ever prevalent in the industry, and the only way to keep customers and businesses safe is with […]
Read more
What is Open Banking, and How Will it Impact You?
Open banking is pretty simple yet completely innovative, it lets you share your bank data with other companies with limited problems. Open banking APIs or the overall process is designed in a way that provides more security and reliability even while using basic financial services like Venmo or Robinhood. With the widespread adoption of open […]
Read more
How Do Mortgage Lenders Check & Verify Bank Statements?
If you seek a mortgage for buying a new home or for refurbishing, it has to be approved by a mortgage lender for you to get your loan. One of the major factors involved in loan approval is the verification of the borrower’s financial information, but how do mortgage lenders verify bank statements for loan […]
Read more
Understanding NFC Payments: The Complete Guide
Near-field communication (NFC) uses radio waves that are similar to radio frequency identification (RFDI), to read and send information between two NFC devices. NFC technologies are mostly used in warehousing labeling and they’re incredibly helpful in tracking applications for simple inventory scanning of shipments, products, and customer orders. NFC is even used in automated toll […]
Read more
What Risks Cryptocurrency Holds to Financial Institutions and the Regulatory Landscape?
Cryptocurrency is a digital currency that’s intended to be used in buying or selling goods and services. Cryptocurrency comes in multiple forms, and it can disrupt the financial institution. As the utilization of cryptocurrency increases, so do the risks to the financial industry. The risks may include fraud losses and regulatory compliance. Fortunately, the Anti-Money […]
Read more
Employment Verification: Step-by-Step Guide
There are several instances where companies will be asked or will initiate a request to verify an individual’s work history and other details associated with their current or past employment. This process is known as “employment verification.” The hiring process is when most companies do verification of employment, and the process includes professional reference checks. […]
Read more
