Blogs
Building the future of fintech.
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 […]
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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 […]
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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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Steps to Improve Customer Onboarding Experience During Sign Up
Since the pandemic, our lives have switched online. Online work, online classes, online lectures and seminars and even visiting the doctor online. The way online technology has evolved and changed our lives, there’s no going back to the old and traditional methods. The proper digital onboarding process can improve customer onboarding experience. In many situations, companies […]
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Building a Successful Digital Compliance Program
One of the biggest parts of completing digital transformation is by modernizing the compliance procedure. The digital compliance process should be in response to regulations set in place to prevent fraud, money laundering, terrorist financing, and so on. The customer Identification Program or more commonly known as KYC (Know Your Customer) is a major part […]
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Fighting Online Fraud with Multi-Factor Authentication Solutions
In a world that’s moving towards complete digitization, how can a business distinguish between fake and real? As a business, the need of identifying a real person from a fake one is vital. Identity authentication solutions help in verifying customer identities. Using multi-factor authentication (MFA), and knowledge-based questions, businesses can reduce the risk of fraud […]
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What is KYB Compliance and How Is It Related to KYC?
Due to the increase in money laundering activities and other forms of financial fraud, countless reforms in regulatory guidelines are being made. More and more businesses understand the need for having strong regulations in place to reduce the risk of fraud and improve the customer onboarding experience. However, most individuals and organizations fail to recognize […]
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How Blockchain Can Affect Traditional Banking?
Blockchain has taken the world by a storm and is changing everything, from payment transactions to how the money is raised to security in online banking. The main question here is, can traditional banking embrace the change or will it be replaced by something new? It is undeniable that blockchain affect banking in a number […]
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Why aren’t KBA Questions The Best Practice in Online Banking?
Knowledge-based authentication or commonly known as KBA has been used since the dawn of financial services. KBA questions have been used as a key data point by almost all organizations during customer identification programs. Basically, knowledge-based authentication questions are used to verify a customer by asking them to answer a series of complicated questions. These […]
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6 Things You Should Follow While Verifying Business Documents
A business has to have documents that look official, provide accurate information, and can be scanned for verification. The editing and proofreading part of preparing a document is important. Numerous documents can be deemed labeled business documents and they help you maintain a wide range of communication internally and externally. If you’re trying to do […]
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