Blogs

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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merchant onboarding and Monitoring

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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address verification during kyc and kyb

Reducing Customer Due Diligence Time: How to Go From Weeks to Minutes?

The regulations made for saving customers and businesses from fraud are diverse and institutions have to keep pace with developing strategies to remain compliant. As such, creating a smooth onboarding process that is robust and efficient isn’t a mean feat. The biggest challenge in staying compliant is for businesses to keep evolving requirements while reducing […]


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what is customer due diligence

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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identity verification process

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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improve customer onboarding experience

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. Customer Identification Program or more commonly known as KYC (Know Your Customer) is a major part of […]


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best practice for digital compliance

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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multi factor authentication

Why Are AI-Based Document Verification Solutions Becoming Weaker?

Artificial intelligence (AI) allows computers to make human-like decisions, making certain processes more efficient. AI technology has improved a lot in recent times and it powers a lot of things such as self-driving cars, and facial recognition. Recently, AI has been applied to online identity verification and online document verification solutions. While the incorporation of […]


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ai-based solutions

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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difference between kyc and kyb

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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how does blockchain affect banking industry