Blogs
Building the future of fintech.
KYC: How Does KYC Complement ID Verification Process?
It is crucial for businesses to know their employees and it is even more crucial to know who their customers and clients are. KYC (Know-Your-Customer) is a vital regulation component for any business to reduce fraud. It is a process that helps to identify and verify customers and who they claim to be. Especially for […]
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Customer Verification: Why Do Online Businesses Need to Know Their Customers?
The online landscape is rapidly changing how businesses interact with their customers and vice-versa. Businesses have been realizing quickly how important digital methods of connectivity are. Digital space providers are ever-growing in industries like e-commerce, finance, and social media. Customer needs are evolving and they utilize the newfound convenience of digital methods like online shopping […]
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5 Trends that Ensure Digital Identity Verification is Crucial in Digital Age
Organizations have been making their switch to digital services for a long time, the pandemic brought a drastic change in the trend. One common change is how we access our financial services online. As most people are looking forward to returning their lives to the pre-pandemic era, digital channels and services are necessary. It is […]
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What is Synthetic Identity Fraud? How does it impact businesses?
Out of all the online frauds, synthetic identity fraud is one of the fastest-growing threats in the U.S. Traditional methods of detection and prevention of fraud are failing when it comes to synthetic ID fraud. Synthetic identity fraud is a type of fraud where fraudsters combine fake and real information such as real stolen social […]
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5 Must-Know Anti-Fraud Strategies To Reduce the Risk of Fraud
Online fraud poses enormous risks, many financial institutions don’t have the procedures and effective systems in place to tackle fraud. No anti-fraud procedure is 100% foolproof. Regardless of that, there are some anti-fraud strategies including 5 key steps that can help in fighting multiple cases of fraud. Fraud is Growing in Quality and Quantity Customers […]
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Ali Dia: Premier League’s Most Well Known Fraudster
The OG football fans know all about Ali Dia, and why wouldn’t they? Ali Dia became famous among the premier league fans globally with just one match. Not for the good reasons though, he played for a good 53 minutes and it was clear that Ali Dia wasn’t built for football. Let’s go deeper into […]
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Why Reliable Digital Document Verification Services are Vital for Business Operations?
Digital transformation is at an all-time high and all the organizations are switching to digital methods instead of physical ones. The process of digitization has sped up due to the global pandemic and businesses being forced to operate using online methods. With more and more customer interactions taking place online, the potential for online fraud […]
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International Client Verification: Verifying Customer Identity Online
The growth of digital banking platforms and online solutions is the key for businesses to grow by onboarding international customers. Remote international client onboarding costs businesses the most time and causes the most problems. Banks that extend their services outside of their domestic region, tend to lack the resources for verifying customer data. Complicated KYC […]
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How Can Ideal Digital Customer Onboarding Lend a Helping Hand In Reducing Fraud?
In the last year itself, the FTC (Federal Trade Commission) received over 2 million fraud reports, which led to losses of over $3.3 Billion. Fraudsters can run a scam to trick the onboarding process by exploiting the identity verification program. Businesses, banks, and FIs need to employ the best risk management program to detect and […]
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What’s Next for the AML Regulation? Fraud Prevention and AML Compliance
The landscape of AML regulation is vast and diverse, and to prevent fraud the financial industry needs to keep up with the ever-changing rules and regulations. On January 1, 2021, the National Defense Authorization Act passed a new act containing a variety of defense and national security matters. This act included reforms to US anti-money […]
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