Tag: PassFort

The Financial Conduct Authority (FCA) has said it is looking for a ‘significant number’ of tech experts as it looks to invest in data usage to prevent online fraud.

Companies are facing increasing pressures to streamline customer-facing processes. The digital ecosystem emphasizes a world where people want things completed instantly and poor experiences mean switching to other providers. Chor Teh - financial crime compliance industry practice lead at Moody’s Analytics - has explored why customers should be at the front of onboarding processes.

The automatic verification of someone’s ID is undoubtedly the first building block in the onboarding process of a digital customer. However, what is needed in this process and what should you be looking for in a tool? 

The use of biometrics is everywhere. From buying a coffee to opening a bank account, there are more ways than ever to encounter the technology.

With the number of children using digital services increasing by the year, the need for greater online financial protections is increasing considerably.

With a central bank digital currency (CBDC) anticipated to be launched in Europe soon, it is becoming increasingly important that merchants can prepare to accept such a currency.

The UK Financial Conduct Authority has new powers over the UK largest banks and building societies to ensure cash withdrawal and deposit facilities are available to communities across the country.

In a world where financial crime and money laundering are becoming ever more common and widespread, the need to have strong and regular KYC checks has become imperative.

In an age of heightening tension where sanctions are being imposed globally, being able to decode and identify politically exposed persons is becoming more and more vital.

As the way we move and use money changes, fraud finds new ways to fester. With reports of fraud increasing year-on-year, is automated KYC enough in this long-standing fight?