Know your customer (KYC) stories - Page 9

Jonathan Andresen joins us today to discuss the identification and authentication solutions offered by Incode.

Corpay and fintech firm Triterras have announced a new collaboration between Corpay's Cross-Border business and Triterras Inc.

RiskBusiness says its report on open banking finds that while it holds much potential, financial services firms need to ensure they have robust, risk processes.

Chartis has named SAS a category leader in trade-based anti-money laundering (TBAML) for its broad end-to-end automation and deep risk analytics capabilities.

Elevate Security appoints Kevin Senator as CRO, Harris Schwartz as Field CISO, and Brian Duckering as VP of Marketing to drive growth and sales.

BAXE, IDEMIA, and Haventec have partnered to launch a decentralised blockchain ecosystem using facial authentication for identity verification in Australia. .

Jumio is set to acquire data marketplace 4Stop, allowing organisations to manage customer identity within a single platform.

Nearly all Australian financial institutions (FIs) plan to replace in-house financial crime management solutions within three years, says IDC.

Swarm Markets and Yoti are teaming up to offer crypto vouchers for verified users, providing a gateway to secure and regulated DeFi.

Two-thirds of banks, corporations and NBFIs are still using search engines for trade compliance, risking red flags and missed opportunities, says Accuity.

Failed payments are costing the global economy over US$118.5 billion, with organisations losing customers as a result.

Banks spent on average approximately $360,000 in 2020 on failed payments, whereas the average corporate firm spent just over $200,000.

Global spending on financial crime compliance at financial institutions is forecast to reach US$213.9 billion in 2021.

Organisations are increasingly using digital identity verification and biometrics to streamline the onboarding process and enhance customer experience.

Melbourne-based FrankieOne will build Westpac's identity infrastructure for its new BaaS platform, set to launch in mid-2021.

The total projected cost of financial crime compliance within Asia Pacific firms reached US$12.06 billion, according to a new report.

Financial institutions in Asia Pacific accumulate over $10.6bn in penalties for non-compliance with regulations, says Fenergo.

Ping Identity launches PingOne Verify, a cloud service that simplifies customer onboarding and reduces fraud. It uses facial recognition and ID validation.

Blockpass has partnered with Chainlink to provide on-chain KYC data across multiple blockchains, offering secure identity verification services.

Oracle Financial Crime and Compliance Management Cloud Services is an application suite designed for mid-sized banks and smaller financial institutions.