KYC

As pressures continue to rise for financial institutions to meet mounting anti-fraud regulatory requirements, dynamic risk assessments will become more vital.

NVISIONx, which claims to be one an industry-first data risk intelligence platform, has raised $4.6m in seed funding.

Revenue for digital identity marketplace vendors is expected to exceed $53bn by 2026, doubling from the $26bn value in 2021, research from Juniper Research claims.

Samsung Electronics has released its new fingerprint security designed to improve the confidence of biometric payment cards.

RegTech firm PassFort and identity verification company Trulioo have partnered to offer regulated businesses a way to digitally transform their KYC and KYB processes.

As another challenging year comes to an end, the task for organisations to remain compliant in new working environments is still ongoing. Despite firm efforts by many to avoid penalties, some institutions were unable to duck fines last year. Here are the top five compliance failure fines from the year of 2021.

Aware, a global biometrics software developer, has acquired digital ID verification and biometric authentication platform Fortress Identity.

Founded in 2015, Know Your Customer provides digital onboarding solutions to financial institutions and regulated organisations globally. The company builds its KYC platform as an interconnected set of web apps, APIs, databases and pre-trained machine learning models – and is helping to change the game in digital corporate onboarding.

The fight against fraud often feels unwinnable, but Trulioo GlobalGateway is making it a fairer fight.

Neofy, a digital financial cloud provider, will improve its KYC, AML and identity capabilities through a partnership with IDmission, a biometric security and authentication software solution.