Blogs

Best Practices for Remote Onboarding: Why Secure Onboarding Is Needed?

Financial institutions all over the globe operate under strict regulations to reduce money laundering and terrorist funding. Complying with global regulations like FATF and EU Anti Money Laundering Regulations can help in identifying people on sanctioned and politically exposed persons list. Following up with the AML regulations requires huge sums of money by financial institutions. […]


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best practices for remote onboarding

Why Do Digital Business Operations Need Strong Identity Verification Solutions?

The impact of the Covid-19 pandemic has forced businesses all over the globe to reinvent their business operations. With more and more customer interactions happening online, the risk for digital financial fraud and identity theft is rising as well. For businesses to keep up with the digitization of basic work operations, and enhanced risk of […]


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why digital business needs identity verification

How to Prevent Fraud in KYC/AML for Online Business?

Due to the digitization of the world, the interactions between businesses and consumers are on the rise. As businesses are switching to digital methods of transactions, commerce is becoming global instead of sticking to one particular region. With the rise of digital services, the problem of document verification and how to build trust among your […]


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kyc

5 Biggest Challenges Faced During Online Identity Verification Process

The whole idea of identity verification has grown past manually verifying each customer one at a time. Just like everything, online technologies have also improved the way the identity verification process works. Verification and management of online customer identities are more flexible than ever. Systems and solutions built especially for online identity verification are crucial […]


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problem with online identity verification

Five Ways to Tackle the Growing Money Laundering Problem

Banks, financial institutions, and other organizations face countless challenges every day to keep their business secure from fraud. Keeping track of all the anti-money laundering regulations and making use of the latest and efficient technology to tackle the money laundering problem can be tough. This is basically an endless battle against fraudsters who try to […]


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how to deal with money laundering problem

How to Avoid Bank Frauds Using Technology?

Want to know how to avoid bank frauds? Well, the first step is to follow the basic old school step with a blend of technology. Fraud is a worldwide phenomenon that affects all multiple industries and can even have a severe impact on the economy of a country. Banks need to understand how to prevent […]


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how to prevent bank frauds

How eID Verification Improves Client Onboarding for Banks and FinTech

It can be very time consuming for individuals or business owners to take time out of their day to visit banks when they prefer to interact with their Financial Institution online. In this article, we will discuss the benefits of eIDs and streamlining cross-border transactions and how it can improve the client onboarding process. The […]


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How eID Verification

Blockchain for Fraud Prevention: How Blockchain Works?

Blockchain technology has been around for a long time, and it is still growing. A lot of people wonder how does blockchain secure data and how blockchain works. Regardless of all its benefits, there are a lot of mixed feelings towards blockchain technology. It doesn’t matter how mixed the reviews of the technology are, the […]


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blockchain

What Is AML: DIRO’s Role In AML Compliance

Anti-money laundering (AML) is a set of laws, regulations, and proceedings that were made to prevent criminals, cyber attackers, and even businesses from disguising funds acquired using illegal methods as legal money.  Firstly, the illegal funds are covertly introduced into the legit financial system, then the money is moved around so the government and regulating […]


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AML Compliance

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 […]


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how do mortgage lenders verify bank statements