Onboarding Verification

KYC automation software creator Encompass has scored £1.97m in a research and development grant from Scottish Enterprise.

The central bank of India has found a lender’s due diligence procedures lacking and has fined the bank Rs one crore ($107,696) as a result.

Financial firms around the world were ordered to pay $36bn in total due to failing to comply with legislation set up to prevent money laundering and fraud.

Credit Suisse has long claimed that it was deceived by rouge bankers when it lent $2bn in a criticised Mozambique deal.

The Central Bank of Egypt has reportedly finished the testing stage of its electronic know-your-customer (KYC) service.

RegTech startup AML360 has revealed ambitious plans to grow acros Southeast Asia, pushing its third-party outsourcing features as one of its key services.

Having secured $17.5m in additional funds from investors like Coatue Management and First Round Capital, Persona is now looking to develop its solutions and grow its team.

With everyone from Facebook to singer Akon launching cryptocurrencies, it is hardly surprising that central banks are also looking into leveraging the technology.

GMO-Z.com Trade UK, a liquidity and technology infrastructure developer, has reportedly partnered with RegTech companies muinmos PASS and NorthRow to improve its onboarding.

Financial firms in India can now use video-based methods to verify the identities of their customers.