Tag: Know Your Customer (KYC)

Essential guide to Anti-Money Laundering (AML) compliance in 2024

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.

Enhancing onboarding: The strategic edge in bank customer due diligence

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 welcomes new CCO Andrew Brandman to spearhead client-centric growth

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

PEPs: The banking and finance VIP challenge

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.

KYC Portal underlines benefits of perpetual know-your-customer approach

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.

Kroll introduces new KYC solution to strengthen checks, onboarding efficiency

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

How will AI and automation disrupt the KYC and onboarding process...

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

Financial crime compliance efforts cost financial institutions around the world $180.9bn...

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

How KYC Portal became a leader in the client onboarding market

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

New e-KYC guidelines published by Indian regulator to help illiterate people...

People who cannot read have been given more opportunities to open new bank accounts in India thanks to new electronic know your customer (e-KYC) guidelines.

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