Navigating regulatory challenges amidst shifting global trends
As 2024 progresses, regulators worldwide find themselves increasingly busy, grappling with the dual challenges of an ever-changing geopolitical landscape and the rapid evolution of technology.
How KYB regulations shape the future of banking and FinTech
Know Your Business (KYB) is a crucial process for verifying business entities during the onboarding phase, aimed at understanding risk factors, financial health, creditworthiness, and beneficial ownership.
Understanding KYC in banking: A comprehensive guide
KYC is a fundamental process in banking that involves identifying and verifying individuals at the point of account opening.
How is blockchain transforming the KYC space?
When it comes to dealing with financial crime and the challenges posed by bad actors, having efficient and scalable technology is a huge must...
Unlocking front office potential: The shift from manual KYC to automated processes
The role of front office staff is crucial in driving revenue, yet the burden of KYC onboarding can significantly impede their productivity. Transitioning from...
Tackling money laundering: How KYC loopholes are exploited by criminals
KYC protocols serve as the cornerstone of AML efforts, obliging financial institutions to verify their customers’ identities.
The future of identity verification: How eKYC is transforming FinTech
In the realm of financial services, compliance with Know Your Customer (KYC) regulations is paramount.
Essential KYC strategies to protect your business and customers
Understanding the intricacies of KYC practices is paramount for financial institutions aiming to mitigate risks and ensure compliance. A recent article by RelyComply delved...
The role of AI in revolutionising KYC processes in 2024
In a recent post by Encompass Corporation, the firm outlined what will be the future of the KYC industry in 2024.
The pivotal roles of governance and risk assessment in BSA/AML and OFAC programs
Governance and risk assessment are not regulatory checkboxes but the bedrock of a robust BSA/AML and OFAC compliance program.
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