Detection and Prevention of Sophisticated Document Fraud in 2021

In 2020, the world saw the biggest use of fake and stolen documents for illegal activities. One of the biggest reasons for that is the pandemic that caused millions to face unemployment. We live in a digitally connected world and most of our lives are spent using online services. Digital banking, government tax portals, and […]

Open Source Financial Services: What They Are, What They Offer?

Open source has the capability to transform the financial services industry. This evolution will shift the power in the $25 trillion industry from business executives to state-of-the-art developers, not just for FinTechs, but for old-style banks as well. Before the evolution of digital transformation in the banking industry, building and offering financial services was a […]

Adopting Digital Assets in Financial Services

Any technology that shows any type of promise is always met with hype. Cryptocurrencies and other digital assets in the financial industry feel the same way, but over the last few months, the developments in the industry show all the signs of digital assets becoming a mainstream service. Needless to say that there are several […]

How Cryptocurrencies are Disrupting Money Transfers?

Using traditional methods for money transfers can be monotonous and slow. Sending or receiving money using regular bank services can take 3-5 business days. Innovative technologies such as digital wallets, third-party payment apps can transfer money faster. New banking infrastructure is disrupting the current financial landscape to improve the financial lives of millions all over […]

Identity Verification in The Financial Services Industry

Identity verification is becoming more and more essential in the growing digital financial landscape. It has two different benefits, helps in preventing fraud and prevents fines for non-compliance with KYC and AML regulations. The new and improved financial industry that we experience today has taken so much time and effort to happen. While the concept […]

FinTechs and the Financial Industry Revolution

FinTech is a word combined by mixing two words, “financial and technology.” FinTech stands for financial startups that develop technologies to assist banks, and financial institutions in enhancing common day-to-day activities such as online money transfers, mobile payments, and online customer onboarding, and so on. New technologies are constantly disrupting the financial industry. From peer-to-peer […]

Preventing Account Takeover & Transaction Fraud in eCommerce Marketplaces

eCommerce marketplaces and their use during and post-pandemic have grown significantly. More than 150 million people used online shopping for the first time during the COVID-19 pandemic. Also fraud increases regarding online fraud, organizations are losing $4.5 million per year as a result of online transaction fraud. Consumers put their trust in companies, online marketplaces, […]

Is Real-Time Payment the future of payments?

The “Real-Time Payments (RTP)” system from the US Clearing House is expected to disrupt the financial landscape in 2021. While the latest payment system was launched in 2017, it may seem like that it can change the financial industry. As of right now, the network reaches 56% of US direct deposit accounts. So why do […]

Embedded Finance: What It Is? Can it Change the Future of the Financial Industry?

Over the last decade, the definition of financial institutions has been changing. We are used to thinking of financial services as the domain of banks and specialized firms. But recently, that has been changing. Embedded finance is the concept that financial services can be offered by all kinds of traditional non-financial software and applications. FinTechs […]

Future of Open Banking: Why Banks Need to Take the First Step?

The digital revolution for banks and financial institutions is underway at full speed. While the major tipping point for digital transformation in the financial industry was the COVID-19 pandemic, the seeds of a secure and agile digital environment were available in the industry. Banks and financial institutions were trying their best to keep up with […]

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