Blogs
Building the future of fintech.
Avoiding Money Laundering Risks in Cryptocurrency Industry
In a couple of years, cryptocurrencies have exploded and are being used for transactions around the world. Due to its core nature of anonymity and lack of regulation, the cryptocurrency industry soon became the hub for illegal activities, the majority of which consisted of money laundering. Since the industry was being targeted heavily, crypto businesses, […]
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KYC & AML Guide for Crypto Businesses
Money laundering is a huge threat to the global economy and unfortunately, cryptocurrency has become the magnet for fraudsters looking to launder money with minimal friction. Ever since it started growing, the crypto industry has become holy ground for money laundering and terrorist funding. To disrupt the flow of money laundering and terrorist funding, regulatory […]
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eID Verification Process and Client Onboarding for Financial Institutions
eID verification offers endless benefits for financial institutions, but the biggest thing it helps with is eliminating the risk of financial fraud. To streamline the transactions, customer verification, and client onboarding, eIDAS is vital. It is almost impossible for individuals or business owners to get time out of their schedule to go to banks and […]
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Future of Digital Onboarding, Security and Open Banking
Open banking is perfect for changing the environment of the API economy. For the finance and banking industries, as well as payments, insurance, and marketing, open banking offers a whole new scenario in the digital economy. Open banking can offer innovation, disrupt the traditional banking market and greater efficiency inspires optimism, but still, there are […]
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Crypto Regulations 2021: How Digital Currency Providers Can Stay Compliant?
Since cryptocurrency and blockchain technology has become mainstream, a lot of industry patterns have changed. Bitcoin’s sudden success in 2019 became the reason for the development of more than 2,000 cryptocurrencies. There is mixed opinion about the trail of digital funds, most governments are hesitant about the use of cryptocurrencies. Digital assets (cryptocurrencies) offer anonymity, […]
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Top Use Cases of Blockchain Technology in the Banking Industry
Blockchain or DLT (distributed ledger technology) is an open ledger that keeps track of transactions between two parties permanently. A blockchain is made up of multiple individual blocks all tied up to each other in a specific order. All the involved parties can share the online ledger using a computer network without any middlemen or […]
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Know Your Customer Compliance: How Much Does It Cost To Verify Customers?
Trust goes both ways, both the customers and businesses need to trust each other for maintaining a healthy relationship. Even in the digital age, earning trust is crucial. If a brand can offer trust in all its services, customers will stay loyal to the product and services. With the heaps of data breaches and financial […]
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Customer Due Diligence: Moving from KYC to KYB
Banking is one sector that is always profitable but is also constantly surrounded by fraudsters. Frauds, as well as compliance risks, are often complicated and intricate. To combat the fraud, banks and financial institutions are spending a huge amount to keep up with KYC compliance. The average cost of KYC compliance yearly is close to […]
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Customer Onboarding: Providing Seamless KYC and User Experiences
As a business, you’ve built your marketing campaigns and you have interested buyers ready but your customer onboarding process isn’t up to the mark and it’s hard for your business to acquire new customers. The customer onboarding process needs to be efficient and seamless. Whatever the reason, you won’t be able to grow your business […]
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Using Screen Scraping Vs. Bank APIs: How Do You Differentiate Between the Two?
Many industry experts believe that open banking is the future and it can provide robust protection against money laundering and other types of financial fraud. Since the Covid-19 pandemic and the use of technologies for banking services, open banking has started catching the attention of other people. One thing’s for sure, open banking will become […]
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