Tag: Know Your Customer (KYC)

Never before has the need for global regulatory compliance been so critical, with companies operating across international borders and facing a labyrinth of diverse regulatory frameworks. This comprehensive guide explores what global regulatory compliance entails, its significance, and the main compliance categories.

FullCircl, a SaaS platform renowned for eliminating regulatory and verification hurdles, has offered a  complete guide to money laundering regulations 2024. The updated guide explores the current global Anti-Money Laundering (AML) regulations, providing essential insights for staying compliant.

In the competitive landscape of banking, customer onboarding emerges as a pivotal phase, with customer due diligence standing at its core. When managed poorly, the onboarding process can deter potential clients, causing banks to miss out on new revenue streams. Conversely, hasty or inaccurate due diligence could lead to the acquisition of customers who pose commercial and reputational risks, potentially incurring hefty regulatory fines.

Fenergo, a prominent figure in the digital FinTech space, has announced the appointment of Andrew Brandman as its Chief Customer Officer (CCO).

Politically Exposed Persons (PEPs) have been a longstanding concern in the world of banking and finance, with their identification being a crucial element of anti-money laundering (AML) regulatory requirements for over two decades. Recent events, such as Russia's invasion of Ukraine, have propelled PEPs into the spotlight, as even prominent figures in British politics found themselves denied access to their bank accounts due to their PEP status, as Moody's Analytics discussed in their recent white paper.

A blogpost by KYC Portal has detailed how an ongoing know-your-customer (KYC) approach can help firms reduce their risk exposure to hours instead of weeks or months.

US firm Kroll has introduced Kroll Business Connect, a new know-your-customer (KYC) tool to bolster the onboarding efficiency and KYC checks.

While KYC and onboarding verification have traditionally been a manual process, embracing automation and modern technology is the way ahead.

While financial crime is a global problem, the US and European market are paying the most to prevent it.

KYC Portal may have started as a side project, but its massive success has made it into a leader in the client onboarding market.