Know your customer (KYC) stories - Page 10

Banks spent on average approximately $360,000 in 2020 on failed payments, whereas the average corporate firm spent just over $200,000.

Global spending on financial crime compliance at financial institutions is forecast to reach US$213.9 billion in 2021.

Organisations are increasingly using digital identity verification and biometrics to streamline the onboarding process and enhance customer experience.

Melbourne-based FrankieOne will build Westpac's identity infrastructure for its new BaaS platform, set to launch in mid-2021.

The total projected cost of financial crime compliance within Asia Pacific firms reached US$12.06 billion, according to a new report.

Financial institutions in Asia Pacific accumulate over $10.6bn in penalties for non-compliance with regulations, says Fenergo.

Ping Identity launches PingOne Verify, a cloud service that simplifies customer onboarding and reduces fraud. It uses facial recognition and ID validation.

Blockpass has partnered with Chainlink to provide on-chain KYC data across multiple blockchains, offering secure identity verification services.

Oracle Financial Crime and Compliance Management Cloud Services is an application suite designed for mid-sized banks and smaller financial institutions.

Venture capital (VC) is a massive global industry, with record funding for startups, but tech isn't usually a factor. That's starting to change.

New document verification and facial recognition features to help small-medium sized businesses protect against fraud and financial crime.

deVere Group launches Ident Me app for secure identity verification and notary services, adding to its fintech portfolio.

GBG launches robust anti-fraud solutions, featuring the flagship Instinct Hub, to safeguard businesses and their clients in a complex digital landscape.

The thirteen drivers will have your sound bouncing off your walls while placing you in the centre of all the action.

Cloudera's Dr Richard Harmon highlights the critical role of data analytics in combating financial crime, urging a unified approach to enhance KYC capabilities.

Under the agreement, illion will have the ability to resell Kyckr's technology and solutions to new and existing customers across the ANZ region.

Kyckr raises AUD $5.2 million through share placement, bolstering global commercialisation plans and strategic partnerships with the likes of AXA Singapore.

Credorax partners with Cisco to enhance its data center network, boosting capacity, lowering latency, and improving service assurance for merchants.

The agreement with Demyst will allow the Kyckr API to be accessible by existing and future Demyst API customers.

Pioneering the future of self-sovereign identity, blockchain aims to secure personal data and streamline compliance, offering control back to users.