KYC

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.

Identity verification infrastructure Passbase has closed its Series A on $10m to support the creation of the first robust policy and workflow manager.

Device identity and authentication solution developer Entersekt has received a strategic investment from Accel-KKR.

Muinmos was founded back in 2012 after Remonda Kirketerp-Møllersaw a big gap in the market for making client onboarding simpler and more efficient in financial services. With a rapidly growing global client base of banks, investment firms and asset managers, the company is emerging as a major player in key global markets.

Identity verification and authentication platform Incode has earned its horn after a $220m funding round brings its valuation to $1.25bn.