Tagged: kyc

August 31, 2020 @ 8:03 am By Omar Faridi  |  

Digital challengers such as neobanks and various other Fintech service providers are beginning to transform many traditional business activities through the digitalization of many different services that previously required laborious manual processes (like accounting). Customer or user experience (UX) has become a key differentiator when… Read More

August 29, 2020 @ 11:20 am By Omar Faridi  |  

Indonesia has a population of around 270 million residents, and most of these people are underbanked or financially underserved. Businesses in the fast-growing economy also don’t yet have access to modern financial services, like the kind we’d typically find in many of the developed Western… Read More

August 14, 2020 @ 10:33 am By Omar Faridi  |  

The Seychelles registered Bitcoin Mercantile Exchange (BitMEX), the world’s largest cryptocurrency derivatives exchange, announced on August 14, 2020, that it will be introducing a user verification program. The Hong Kong-operated exchange noted that it will be launching its User Verification Program “at 00:00 UTC on… Read More

August 7, 2020 @ 12:47 am By Omar Faridi  |  

Poland’s mPay has teamed up with iDenfy to use its biometric facial recognition software, (selfie) liveness detection, and ID verification tech, in order to take care of its Know Your Customer (KYC) compliance checks for processing mobile payments. The mPay app allows users to conduct… Read More

July 28, 2020 @ 3:13 pm By JD Alois  |  

Dubai Economy (Dubai Department of Economic Development or DED) and Emirates NBD, a leading banking group in the MENAT region (Middle East, North Africa, and Turkey), have announced the go-live of the UAE KYC Blockchain Platform. The project is described as an initiative that facilitates… Read More

July 28, 2020 @ 1:15 pm By Samantha Hurst  |  

UK-based challenger bank Tide has teamed up with UK fintech DueDil to further improve its account opening experience. The partnership will reportedly see Tide using DueDil’s company intelligence platform, providing insights on over 50 million companies worldwide, to speed up mandatory Know Your Customer (KYC)… Read More

July 20, 2020 @ 4:25 pm By Omar Faridi  |  

Matthew Unger, CEO at Vancouver, Canada-based iComply Investor Services Inc, a global compliance platform for digital finance, reveals that updated regulations for strong client authentication and transaction monitoring now require Fintech companies to manage many complex tools. He points out in an Op-Ed on Finance… Read More

July 8, 2020 @ 7:28 am By Omar Faridi  |  

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

July 5, 2020 @ 10:09 pm By Omar Faridi  |  

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

July 4, 2020 @ 3:34 pm By Omar Faridi  |  

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

June 27, 2020 @ 7:22 pm By Omar Faridi  |  

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

June 19, 2020 @ 12:13 pm By Omar Faridi  |  

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

June 12, 2020 @ 7:33 am By Omar Faridi  |  

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

June 5, 2020 @ 10:00 pm By Omar Faridi  |  

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

May 24, 2020 @ 3:32 pm By Omar Faridi  |  

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

May 7, 2020 @ 11:18 pm By Omar Faridi  |  

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

May 7, 2020 @ 12:21 pm By JD Alois  |  

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

May 6, 2020 @ 10:28 am By Omar Faridi  |  

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

May 5, 2020 @ 9:49 am By JD Alois  |  

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

May 3, 2020 @ 11:29 am By Omar Faridi  |  

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