What Is Identity Theft? How to Prevent ID Theft Online?

Identity theft is when someone steals your personal information and uses it for financial fraud. There are multiple types of identity theft and each type can affect you differently. Almost all types of identity theft lead to financial loss. The cases of identity theft are growing every year with the rise of new technology, and […]

AML Compliance Guide: What Are The Best Practices for Anti-Money Laundering?

Finding and following effective AML programs to ensure Anti-Money Laundering compliance throughout organizations is crucial for all businesses. Keeping up with effective AML policies, procedures, and utilizing the latest technologies can assist an organization in protecting itself from money laundering. However, not every organization follows the best practices for anti-money laundering compliance which can cause […]

What is Blockchain Technology and How Blockchain Works?

Blockchain technology, also known as Distributed Ledger Technology (DLT), helps in maintaining the history of any digital asset immutable and transparent. The technology uses decentralization and cryptographic hashing to make the data unchangeable and transparent. While blockchain is widely popular in the cryptocurrency industry, other industries don’t know what is blockchain technology or how blockchain […]

What’s the Importance of FinTech in Banking Industry?

The banking industry is in dire need of digital transformation as customer demands are changing drastically. No customer has the luxury of time to wait for multiple days for the completion of the smallest of processes. FinTech or financial technology is important for the digital transformation of the banking industry and financial industry. FinTech companies […]

How to Verify Bank Accounts For Merchants?

The finance industry is full of fraud every step of the way, and merchants’ bank account verification and customers are important. Businesses use some common practices to collect and verify bank account details. The method for verification for merchants’ bank accounts differs from business to business. There are multiple ways to verify bank accounts for […]

Best Practices for Remote Onboarding: Why Secure Onboarding Is Needed?

Financial institutions all over the globe operate under strict regulations to reduce money laundering and terrorist funding. Complying with global regulations like FATF and EU Anti-Money Laundering Regulations can help in identifying people on sanctioned and politically exposed person lists. Following up with the AML regulations requires huge sums of money from financial institutions. Not […]

5 Biggest Challenges Faced During Online Identity Verification Process

The whole idea of identity verification has grown past manually verifying each customer one at a time. Just like everything, online technologies have also improved the way the identity verification process works. Verification and management of online customer identities are more flexible than ever. Systems and solutions built especially for online identity verification are crucial […]

How to Avoid Bank Frauds Using Technology?

Want to know how to avoid bank fraud? Well, the first step is to follow the basic old-school step with a blend of technology. Fraud is a worldwide phenomenon that affects all multiple industries and can even have a severe impact on the economy of a country. Banks need to understand how to prevent bank […]

How eID Verification Improves Client Onboarding for Banks and FinTech

It can be very time-consuming for individuals or business owners to take time out of their day to visit banks when they prefer to interact with their Financial institutions online. In this article, we will discuss the benefits of eIDs and streamlining cross-border transactions and how they can improve the client onboarding process. The big […]

Types of Bank Account Verification Methods & How DIRO Facilitates Account Verification?

Verifying a bank account is one of the most crucial parts of minimizing the risks of fraud and scams for a bank, financial organization, or FinTechs. With the technology growing at an incredible pace, ACH transactions are at an all-time high. Bank account verification is crucial during online funds transfers commonly known as ACH transactions […]

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