Know your customer (KYC) stories - Page 7

ABBYY unveils Document AI API, a developer-friendly tool to convert unstructured business documents into accurate data, boosting automation in workflows.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

Kore.ai has unveiled AI for Process, a no-code platform designed to revolutionise enterprise workflow automation and optimise decision-making.

In an era where speed and efficiency are paramount, banks must decide between building custom KYC systems or investing in advanced SaaS solutions to enhance client onboarding.

Encompass has unveiled its EC360 platform to revolutionise corporate client verification in banking, addressing outdated processes amid rising competition.

Ondo Finance has unveiled tokenised U.S. Treasuries on the XRP Ledger, boosting institutional access to short-term securities via Ripple USD.

Microblink has reported robust growth in 2024, buoyed by rising demand for its identity verification solutions and expanded integration on Google Cloud.

A study by Juniper Research forecasts that global non-financial businesses will spend USD $22 billion on KYC/KYB systems by 2029, marking a 140% increase.

Veriam has unveiled a groundbreaking platform that seamlessly integrates identity management, access control, and subscription services to simplify business operations.

Easy Crypto becomes the first exchange to disclose fraud refunds totalling $2.7M, stressing security as about 50% of Aussies & Kiwis show crypto interest.

AI-driven cybercrime surges in Australia and NZ, warns Trend Micro; thousands of attacks detected, leveraging AI to breach security defences.

Cybersecurity firm Acronis has identified a staggering 293% increase in email cyberattacks during the first half of 2024 compared to 2023.

Appdome has bolstered its Geo-Fraud Detection service with Geo-Location Fencing and Geo Desync Attack Detection to better protect mobile apps from location-based fraud.

TanX has hit a quarterly trading volume of USD $1 billion, marking a 70% rise and underscoring the growing reliance on decentralized trading platforms.

ReliaQuest's latest report reveals cybercriminals are exploiting ChatGPT and other AI tools to create near-perfect phishing emails, achieving a 2.8% success rate.

LexisNexis Risk Solutions debuts its first Australian cloud hosting facility, enhancing local risk orchestration services with advanced compliance solutions.

Encompass appoints Andrew Dunn as VP of Engineering, tasked with leading the strategic delivery of its CDI platform to enhance global banking solutions.

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.

First AML launches AI Assist, promising to reduce compliance tasks to 60 seconds, expediting KYC and AML processes by 90% through automated data extraction.

Research by Encompass Corporation reveals that 87% of corporate treasurers in the UK and US abandon banking applications due to outdated onboarding processes.