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 […]

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, […]

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 […]

top use cases of blockchain in banking industry

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 […]

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 […]

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 […]

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 […]

Best Practices to Follow For Merchant Onboarding and Monitoring

Merchant onboarding is the key to growth for any kind of business, regardless of the fact if you’re a merchant acquirer, a payment service provider, or anyone else. As a business, you would want to have as many merchants to support more transactions. But, onboarding more merchants without proper due diligence can cause more losses […]

How to Perfectly Ace Address Verification During KYB & KYC Process?

Customer address verification is vital for opening accounts, signing up for new services, and more, but verifying customer addresses isn’t as easy as it seems. The new automated method offers an up-to-date source for address verification and digital methods for address verification are perfect for businesses to reduce fraud. The biggest reason for identity fraud […]

Improving Identity Verification Process for the Digital Age

As all of our transactions and other banking activities have moved to a digital space, the need for tighter and more secure ID verification increases. Regulatory bodies worldwide keep pushing the financial industry to adhere to AML and KYC laws more strictly. To ensure security, good customer experience, and proper compliance, firms have to expand […]

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