Steps for Digital Transformation in Banking Industry

Consumers’ expectations from banks are changing and the need for seamless and efficient processes is growing. Banking Digital transformation helps banks evolve and stay competitive. Most banks have a huge task ahead of themselves and they need to step up to customer expectations to stay relevant in changing times. As per data collected through a […]

Information about New Indian Digital Currency

If you don’t know already, the Digital Rupee is India’s own regulated cryptocurrency that will be soon launched by the RBI. On February 1, while announcing the annual budget for 2022-23, Union Finance Minister “Nirmala Sitharaman” announced to the whole country that RBI will be launching an Indian digital currency in the financial year 2022-23. […]

Guide on Types of Cryptocurrency Fraud

Almost everyone who wants to invest their money has looked towards cryptocurrencies at least once in the last few years. Cryptocurrencies like Bitcoin, Ethereum, Solana, and a few more are taking the investment market by storm. Most people invest in cryptocurrencies with the prospect of becoming rich instantly. This leads them to risk and invest […]

Best Fraud Prevention Tips for Digital Currencies

Cryptocurrencies and digital currency trading and exchange platforms have been becoming increasingly common in recent times. For the first time, investors and crypto enthusiasts entered the market because of the sudden boom in the value of Bitcoin. As cryptocurrency’s core nature is anonymity, financial institutions are becoming increasingly aware of a rise in money laundering […]

Customer Due Diligence

Security should be the first and foremost priority of financial institutions and banks. You wouldn’t want to provide access to financial systems to fraudsters of any kind? It makes sense for banks and financial services institutions to vet their customers and potential customers thoroughly. Verifying customers before giving them access to financial services is crucial. […]

Open Finance and Changing Role of a Bank Manager

The digital revolution in the banking industry has been put into overdrive since the pandemic, and many sectors are changing customer landscapes. Business banking is no exception. Banks are now facing growing pressure to introduce new processes in line with customers’ heightened expectations. One finance can transform SMB banking by replacing traditional manual processes. It […]

FinTech 2022 – A Brief Insight into Global KYC Regulations

Financial services globally are heavily regulated by regulated bodies. The number one concern of the government about FinTech companies is the growing rate of fraud. Over the years, FinTechs have achieved incredible growth and flexibility. They can launch new services quickly, focus on scalability, and adapt fast. Although, the rapid growth of FinTechs doesn’t come […]

Digital Account Opening and BSA Teams

Small and large businesses are the same as they are required to follow the same Bank Secrecy Act (BSA) regulations. The associated costs and workload are manageable for big institutions with big teams, but it’s tough for smaller compliance teams. Fortunately, by implementing digital compliance tools, banks of all sizes can enhance their compliance procedures. […]

Proof of Address Guide in US, UK, and Canada

Moving to a new country? Opening a new bank account is one of the first things that you need to do, as there’s no way to survive without money. To open a new bank account in the US, all you need is a driver’s license or a state-issued photo ID. Opening a bank account, or […]

What is Blockchain? How Does It Work in Favor of Business?

Blockchain for business is invaluable for entities that transact with each other. The distributed ledger technology allows participants to access the same information at any time to improve efficiency, build trust, and remove friction. Blockchain also allows businesses to rapidly scale and perform various tasks across industries. Blockchain for small business offer four main benefits: […]

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