Tag: KYB

Financial institutions have spent years enhancing compliance and customer experience through KYC (Know Your Customer) improvements, using technology and automation to achieve straight-through processing...

LEI Worldwide, a provider of LEI solutions, has announced a strategic partnership with The Open Working Group (OWG), a collective initiative focused on redefining...

Sumsub teams up with Fingerprint to stop fraud before it starts using advanced device intelligence. Read the full story now.

SmartSearch has announced a strategic partnership with Daon to enhance identity verification through the SmartDoc platform. The collaboration aims to strengthen customer onboarding processes for...

Effective onboarding has become a critical business function, serving not just as the first touchpoint for customers and vendors but as a reflection of a company’s values and operational maturity.

Persona, a San Francisco-based verified identity platform, has raised $200m in a Series D funding round, valuing the company at $2bn.

Money laundering remains a significant threat to financial systems worldwide, not only as a crime in itself but also as a key enabler of serious criminal activities such as drug trafficking, human smuggling, and terrorism. Consequently, it is critical for all businesses handling substantial sums of money to implement robust AML procedures.

Money laundering is a serious global issue that enables grave crimes such as drug trafficking, human smuggling, and terrorism. For businesses handling significant financial transactions, it is crucial to establish robust anti-money laundering (AML) measures. These include detailed Know Your Customer (KYC) and Know Your Business (KYB) processes that involve rigorous identification, verification, screening, and monitoring of both individual and corporate clients.

Let’s acknowledge a crucial aspect from the outset – managing the Customer Lifecycle Management (CLM) journey has become an increasingly complex, costly, and challenging endeavor. This is a shared challenge across the financial sector, exacerbated by an era marked by continuous change.

In the realm of AML protocols, Negative News Screening (Adverse Media Screening, AMS) stands as a critical frontline defence.