The Identity and Beyond Blog

Maybe you’re a new fintech who has been told you need a transaction monitoring, anti-money laundering (AML) solution. Or you’re a traditional bank with an outdated legacy system and have been told you need to innovate your compliance program in order to save costs and reduce risk. How do you go about finding a solution?…

Providers of social and online gaming have a busy year ahead if they want to ensure geographic jurisdiction and age verification rules requirements are met in Europe’s main markets. Some important changes are coming into law in 2021 that affect how online casinos and gaming sites should manage their Know Your Customer (KYC) and age…

With the rise of new players in the banking space over the last few years, traditional banks have been inundated with the same advice: innovate or die. But when the COVID-19 pandemic hit, this message became an immediate call to action. Quite simply, banks currently have a small window of opportunity to innovate in order…

As business remains online with the pandemic continuing into the new year, it is more important than ever for enterprises to know their users are who they claim to be and not someone logging in with stolen information. And with traditional authentication methods, such as verifying user identity against a database or using passwords or…

Despite widespread reports of fraud increasing because of COVID-19, Jumio customers actually saw a 23% decrease in fraud in 2020. That was just one of the unexpected findings in the fourth edition of Jumio’s Holiday New Account Fraud Report. Every year, our holiday fraud report examines the attempts that users made to fraudulently open new…

Since the Beam Solutions platform was acquired by Jumio in September, we have been busy integrating Beam into the Jumio KYX Platform and settling into our new home. The Beam solutions are now under the umbrella of Jumio Transaction Monitoring, which includes monitoring and detection of transactions, accounts, and parties as well as watchlist screening,…

COVID-19 has drastically changed how people are traveling. Big trips involving air travel, luxurious hotel accommodations, dining at world-class restaurants and itineraries packed with bustling tourist destinations have been off the table for months due to lockdown mandates and international travel restrictions. But this doesn’t mean people are staying home — they’re just staying closer to…

Failures in compliance processes cause firms to face heavy penalties, criminal proceedings and sanctions. Unfortunately, many firms keep making the same compliance mistakes and struggle to meet their regulatory obligations despite the repeated messages in these enforcement cases. The enduring problems reflect a lack of resourcing and the reliance on legacy systems that can’t keep…

AI and racial bias seem to be increasingly intertwined these days. When bias becomes embedded in machine learning models, it can have an adverse impact on our daily lives. The bias is exhibited in the form of exclusion, such as certain groups being denied loans or not being able to use the technology, or in…

The Bank Secrecy Act (BSA) is celebrating its 50th birthday today. Established on October 26, 1970, it has become one of the most important anti-money laundering (AML) tools in the United States and has set the pace for worldwide AML efforts. Let’s take a look at how it’s changed over the five decades since its…

COVID-19 has had a huge impact on online customer adoption and, according to McKinsey Digital, “the rapid migration to digital technologies driven by the pandemic will continue into the recovery.” Organisations have had to rethink their customer onboarding processes in order to move their services fully online, meet KYC/AML mandates and deliver a better digital…

As the economy slowly starts to recover, there are still pockets of the market that still need to hire lots of folks en masse. This is known as high-volume recruitment and generally refers to filling a larger-than-average number of positions in a relatively short time frame. And much like everything else in the COVID era,…