The Identity and Beyond Blog

When it comes to onboarding customers online, businesses have adopted eKYC solutions to ensure their new customers are who they say they are and are suitable to do business with. But most eKYC solutions are limited in scope, forcing companies to research, purchase, integrate and maintain dozens of different point solutions to meet all their…

Anti-Money Laundering (AML) regulations apply to all financial institutions, including fintech companies. The purpose of AML is to prevent financial crimes, such as terrorist financing and identify fraud. Know Your Customer (KYC) is a core component of AML and is especially important for fintech organizations. KYC in fintech is more challenging than in other financial…

Hello banking and fintech friends! I had the opportunity to sit down with Anmol Grover, Open Banking Lead for Wipro and Alix Melchy, VP of AI at Jumio, to learn more about how we work together to provide banks with a secure and innovative solution that enables digital transformation and identity verification. What is open…

After a massive decline during the COVID-19 pandemic, travel came soaring back in 2022. But while this rebound is good news for the travel industry, fraud has also been taking off. Criminals have realized that travelers provide a gold mine of value, both in the ease of stealing their identities (made easier because travelers must…

Email risk is a low-cost but powerful risk signal you can use in your onboarding process to help prevent fraud. In fact, when I was a junior fraud operations manager, I got to see first-hand what a huge difference this risk check can make. I was tasked with mitigating onboarding fraud for the company’s deposit…

Anti-money laundering (AML) regulations are necessary to battle crimes in the financial services industry, including terrorist financing, identity fraud and illegal drug transactions. They are the primary means used to reduce this type of unlawful activity. AML regulations encompass several subsets. Know Your Customer (KYC) is perhaps the most important of these subsets and, in…

When onboarding new customers online, there are many different risk signals you can evaluate to ensure the customer is who they say they are and that they don’t cause unnecessary risk to your business. For example, you might look at the history of the email address or phone number the customer provides to see if…

Today we are proud to announce the continued evolution of the Jumio KYX Platform with additional features that further enhance our intuitive, one-stop orchestration hub. The KYX Platform provides end-to-end identity proofing, risk assessment and KYC/AML compliance management to help you fight fraud and financial crime. Following are the highlights of the latest improvements. Enhanced…

In the past decade, “digital identity” has simply referred to uploading a digital copy of your driver’s license, passport or other identification document (ID). Identity verification solutions use these digital snapshots to help businesses know and trust their customers online. But these snapshots have some flaws. First, it’s easy for fraudsters to digitally manipulate these…

Designing an effective Know Your Customer (KYC) program is a critical component of an effective anti-money laundering (AML) program. KYC requirements are meant to protect your organization from doing business with — or becoming the victim of — financial criminals. Without a well-designed KYC process, your organization is unlikely to be compliant with government regulations….

If you’re confused by all the identity verification solutions on the market and how they’re different, you’re not alone. With everyone claiming to have the fastest and most accurate solution for helping you know and trust your customers, it can be hard to decide which one is really the best. The technical jargon makes it…

Have you ever watched the chilling cult classic “Invasion of the Body Snatchers”? The 1950s alien takeover movie is best remembered for evoking paranoia about the faceless evil lurking within society. Now, 70 years later, this invasion may be more real than reel. People who are not who they claim to be are silently and…