Blogs

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.  Although not every organization follows the best practices for anti-money laundering compliance which can cause […]


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AML Compliance

How to Enhance Supplier and Vendor Onboarding Process: Best Practices, Process, and Rules to Follow

Vendor onboarding or also known as supplier onboarding is a tricky yet extremely meticulous process. Supplier relationship management is a systematic process that allows businesses and organizations to collect documentation and data to qualify, approve and contact vendors, purchase goods or services and make timely payments to supply partners. Vendor onboarding compliance is tough as numerous […]


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what is vendor onboarding process

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 […]


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What is blockchain technology

What’s the Importance of FinTech in Banking Industry?

The banking industry is in a 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 […]


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importance of fintech in banking

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 account, differs from business to business. There are multiple ways to verify bank accounts for […]


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how to verify bank accounts for merchants

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 persons list. Following up with the AML regulations requires huge sums of money by financial institutions. […]


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best practices for remote onboarding

Why Do Digital Business Operations Need Strong Identity Verification Solutions?

The impact of the Covid-19 pandemic has forced businesses all over the globe to reinvent their business operations. With more and more customer interactions happening online, the risk for digital financial fraud and identity theft is rising as well. For businesses to keep up with the digitization of basic work operations, and enhanced risk of […]


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why digital business needs identity verification

How to Prevent Fraud in KYC/AML for Online Business?

Due to the digitization of the world, the interactions between businesses and consumers are on the rise. As businesses are switching to digital methods of transactions, commerce is becoming global instead of sticking to one particular region. With the rise of digital services, the problem of document verification and how to build trust among your […]


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kyc

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 […]


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problem with online identity verification

Five Ways to Tackle the Growing Money Laundering Problem

Banks, financial institutions, and other organizations face countless challenges every day to keep their business secure from fraud. Keeping track of all the anti-money laundering regulations and making use of the latest and efficient technology to tackle the money laundering problem can be tough. This is basically an endless battle against fraudsters who try to […]


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how to deal with money laundering problem