Spanish Version Portuguese Version As digital transaction trends accelerate, financial firms must stay one step ahead to ensure security and prevent fraud. In Latin America the annual cost of cybercrime mounts up to $90 billion USD so it’s no surprise that companies are increasingly supporting digital tools that verify customer identity quickly and efficiently. This…
Know Your Customer, or KYC, is a key component of anti-money laundering regulations (AML) and requires gathering in-depth identity and transactional data on new and current clients. KYC remediation is the process of analyzing this data, identifying risks and resolving discrepancies in order to achieve regulatory compliance. Financial institutions — including banks, fintechs and financial…
Increasing scrutiny from customers and regulators combined with increasingly scrupulous fraudsters means your online identity verification program must get real. Verifying the real life identity of your online customers is a growing concern and necessity of businesses across industries. Many of solutions exist to help companies identify the true identity of their online customers. If…
When many people think of fraud, they imagine a solitary individual who compromises data, creates fake credit cards based on that data, and then uses the cards to make purchases. In fact, it is very rare to find this type of structure where one person does everything, simply because it’s not efficient. Most successful fraudsters…
:Dribe is determined to revolutionize the way people drive. They believe that Denmark — one of the world’s best countries for adopting new technology — is ready to trade car ownership for a smarter approach to mobility and thus offers a fully digital car subscription service designed to give customers unmatched freedom, convenience and peace…
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…
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…