Detecting and Preventing Fraud During Vendor Onboarding

As businesses globally are understanding the importance of employing additional fraud prevention methods, it has led to a dramatic fall in fraud rates. Handling the aftermath of fraud is becoming super expensive for businesses. This is why the adoption rate of new technologies and compliance rate is improving. Unfortunately, even after several significant changes in […]

Five Major Steps for Strengthening your ID Fraud Prevention Strategy

Customers demand a safe and secure environment. This means providing protection from data theft, Identity protection, protection from account takeover fraud, and more. But, this is 1not a one-sided process. Both organizations and customers need to follow practices that keep them safe online. One of the best things that banks and other businesses can do […]

KYC and AML Risk Assessment for Customer Onboarding

When onboarding new customers, financial institutions must balance the need to mitigate risk with the necessity to keep the customer experience frictionless. To that end, AML/KYC risk assessment is critical for onboarding new customers. Indeed, financial institutions are under increasing pressure to meet regulatory standards while making the customer onboarding process frictionless. The combination of […]

Enhanced Due Diligence: How Important is it for Banks?

In today’s business and regulatory climate, a business has to take all precautionary steps to prevent fraud. This means identifying and verifying customers’ identities and meeting KYC guidelines. Whenever a financial institution starts a new business partnership with individuals or organizations without fully knowing their past and present business dealings, it can open the business […]

Crypto Regulations in Canada & U.S: Latest Updates and What You Should Know

The regulatory landscape for cryptocurrencies has been changing rapidly in the past few months. New regulations, along with old ones, have also come into force. In this article, we will be discussing the latest developments in the crypto regulations landscape in Canada and United States. The concerns around potential risks arising from investing in cryptocurrencies […]

Machine Learning Technology for Detecting Fraud: How to Leverage Technologies?

In the last couple of years, the number of fraudulent services available in the market has increased. It has become essential for banks and financial institutions to employ machine learning technology that can help in fraud prevention. While protecting customers by detecting fraud is a huge challenge, it should always be kept high on the […]

Benefits of Open Banking for Consumers

Things have changed in how people handle their finances. This is because of the recent wave of modernization in banking. FinTech innovations are changing the way consumers think about their finances. The Covid-19 pandemic has accelerated digital banking transactions. The shifting reality of how finances are managed is growing. Bank branches and paper checks are […]

New Account Verification Rules – What They Hold for Consumers and Financial Institutions

The payments industry is changing faster than ever. Consumers are welcoming a number of changes and adopting the latest technologies. Customers globally are moving towards an online payments landscape instead of relying on cash and checks. There are over 140 online payment methods available globally. The use of online payments is also giving a boost […]

Open Banking Initiatives Around the World

Open banking has become the “IT” word of the financial industry. But, it is not just for creating hype, open banking has some incredible real-world applications. In case you’re not familiar with open banking, it’s the process of banks and other institutions allowing customers to share their financial data with trusted entities. Open banking/open finance […]

KYC Requirements in Singapore in 2022

Singapore is one of the world’s leading financial hubs and also one of the Asia-Pacific leaders. So, it makes sense that businesses all over the globe want to invest in the Singapore markets. Economic stability makes it an even better option for investors globally. Singapore for years has been following a pro-business attitude that encourages […]

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