Tagged: kyc

ID Verification Solutions Provider Trulioo has Developed New Facial Recognition and Document Authentication Software

Trulioo, a provider of global identity verification solutions, revealed on July 8, 2020 that it has developed  new document verification and facial recognition software. The new features will be added to EmbedID, a low-code developer tool that can work with the GlobalGateway API – which… Read More

FInD, a Government of Maharashtra Initiative for Matching Indian Investors and Startups, Confirms that Yes Bank has Launched Fintech App Yuva Pay

FInD, a government of Maharashtra initiative that aims to match suitable investors and startups in India, confirmed on July 2, 2020, that Yuva Pay, which is part of FInD’s curated Fintech cohort, has teamed up with Yes Bank to introduce an integrated digital wallet platform…. Read More

P2P Bitcoin (BTC) Exchange LocalBitcoins Reports Over $29 Million in Annual Revenue for 2019, Updates KYC/AML Processes

LocalBitcoins, a leading peer to peer (P2P) Bitcoin (BTC) exchange, reported its financial results on July 1, 2020 for last year (2019). The P2P crypto exchange company recorded an annual revenue of €26.2 million (appr. $29.46 million), which represents a significant 10% increase when compared… Read More

Fintech Lanistar, an Alternative Financing Services Provider, to use Jumio’s Biometric ID Verfication for Digital Onboarding

Fintech firm Lanistar, an alternative financial services provider, has reportedly chosen Jumio’s biometric ID verification technology to complete its customer onboarding process. Lanistar is planning to use Jumio’s software when it launches a polymorphic debit card later this year. The digital ID verification solution will… Read More

Consulting Firm deVere Group Launches Digital ID Verification System, CEO Nigel Green Says there’s “Soaring Global Demand” for Fintech

The deVere Group, a global financial consultancy providing advice to expatriate clients and investors, has introduced a customer onboarding verification app. The company’s Ident Me app aims to offer a secure identity verification system, which could serve as an alternative to traditional customer onboarding solutions…. Read More

Billions of Dollars in Illicit Cash Allegedly Laundered via Danske Bank, with Help of Licensed Crypto Firms in Estonia

Estonia, one of the world’s most developed nations with an advanced, high-income economy that’s among the fastest-growing in the EU, is reportedly caught up in one of Europe’s largest-ever dirty-money scandals. Estonia has been quite active when it comes to encouraging the adoption of digital… Read More

CoinDCX Explains how Onfido’s AI-enhanced Software uses Biometrics to Verify Users’ IDs on India-based Digital Asset Exchange

The digital asset and blockchain space is still in its infancy or early stages of development. There are many companies working on developing key infrastructure needed to support emerging cryptocurrency businesses. Cybersecurity, ID verification, AML/KYC processes, and even cryptocurrency-related insurance services are already being developed… Read More

P2P Lender Lendy, which Shut Down in 2019 and Went into Administration, Needs Investors to Clear More AML Checks Before Getting Refunds

Peer to peer (P2P) lender, Lendy, which shut down last year and went into administration, will be requiring previous investors to pass certain anti-money laundering (AML) checks again, before they qualify to get refunds. As confirmed on the firm’s website (which is not offering any… Read More

UAE’s Authorities Request Financial Service Providers to Use Latest Fintech and Regtech to Help Follow AML Guidelines During COVID-19 Outbreak

The United Arab Emirates’ (UAE) top regulatory authorities have asked local businesses to leverage the latest Fintech solutions to counter anti-money laundering (AML) and other types of illicit financial activities. The advisory was issued by the nation’s reserve bank, Ministry of Economy, Ministry of Justice,… Read More

Digital Securites Platform Securitize Simplifies KYC Process

Securitize, an issuance and management platform for digital securities, has added “Securitize ID,” to its list of features. The new automated sign-in tool offers digital security issuers and investors a fast, compliant, and reliable verification process. The new tool arrives just after Securitize launched Securitize… Read More

Ray Youssef: CEO and Co-founder at Paxful Explains How Company’s Global Bitcoin (BTC) Marketplace Is Enabling Greater Financial Inclusion

Ray Youssef, CEO and co-founder at Paxful, a leading peer to peer (P2P) Bitcoin (BTC) marketplace, recently shared his views and insights with Crowdfund Insider. Paxful says it’s on a mission to support “social justice through financial freedom worldwide.” The company offers a platform with… Read More

Blockchain based ID Firm Vereign AG Closes on CHF 2.5 Million Seed Round

Vereign AG, based in Zug, Switzerland, has closed on a financing round of CHF 2.5 million (~ $2.58M) to establish a Swiss network for a verified and self-managed identity service. The financing round was led by AquilaDirekt AG and a renowned Swiss entrepreneur through a… Read More

Payment Verification Tech Provider ISignThis Loses Legal Battle to Suppress Australian Securities Exchange’s Reasons for Share Suspension

ISignthis (ASX:ISX), a Melbourne-based provider of remote AML/CFT KYC-enhanced due diligence identity proofing, has reportedly lost its initial legal battle with the Australian Securities Exchange (ASX) over the suspension of its company shares. The suspension was announced following an order from the federal court which… Read More

Digital Trade Finance Solution Developer Surecomp to Allow Select Customers to Test its New API Architecture

Surecomp, an established provider of international trade finance software for banks and corporations, will allow a select group of clients to use and test its Application Programming Interfaces (API) architecture. According to a release, the newly developed API architecture has been created to work with… Read More

Digital IDs: Tokyo-based Mizuho Bank to Test Online Customer Identification System based on Facial Recognition

Tokyo-based Mizuho Bank, the integrated corporate and retail banking division of Mizuho Financial Group (TYO: 8411; NYSE: MFG), the third largest financial services company in Japan, has initiated proof-of-concept (PoC) trials and testing of digital IDs that are based on device location and facial recognition…. Read More

Financial Fraud Detection Firm TruNarrative Partners AccountScore, an Analytics Firm, to Add Open Banking Capabilities

TruNarrative, a solution for financial fraud detection, prevention, anti-money laundering (AML), know-your-customer (KYC), behavioral monitoring and identity verification, has teamed up with AccountScore, a London-based analytics firm offering actionable insights and analytics on banking processes. The partnership involves adding open banking capabilities to the TruNarrative… Read More

Nasdaq-listed NICE Actimize Introduces KYC Xpress, a Cloud-powered Know Your Customer Process Automation Solution

NICE Actimize, a NICE company (Nasdaq: NICE) business offering autonomous financial crime management solutions, has launched KYC Xpress, a cloud-powered solution. According to a release, KYC Xpress automates manual know-your-customer (KYC) processes. It aims to enhance the overall speed, accuracy, and efficiency of processing KYC… Read More

iComply Joins Forces With Microsoft to Enable Remote KYC & AML Verification

Canadian regtech company iComply Investor Services announced on Friday it has joined forces with Microsoft to offer its intelligent KYC and AML services through over 64,000 Microsoft solutions providers worldwide. The collaboration reportedly enables financial services providers to fast track their digital transition and enable a… Read More

ThetaRay, Provider of Big Data and AI-enhanced Analytics Tools, Joins Microsoft’s Partner Program to Offer AML Solution

ThetaRay, a provider of Big Data and artificial intelligence (AI)-enhanced analytics tools, has joined Microsoft’s (NASDAQ:MSFT) partner program, One Commercial Partner, which provides various cloud-powered solutions. ThetaRay’s anti-money laundering (AML) solution for correspondent banking can be accessed through Microsoft’s Azure Marketplace. A large US bank… Read More

Bitcoin Exchange Paxful Becomes First P2P Crypto Trading Platform to Work with Chainalysis to Enhance Compliance Processes

Chainalysis, a leading blockchain analytics and security company, has teamed up with Paxful, a major peer-to-peer (P2P) digital asset exchange. The partnership involves Chainalysis helping  Paxful with enhancing its compliance and KYC processes. Paxful will reportedly be using Chainalysis’ know your transaction (KYT) and “reactor”… Read More

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