KYC

Know Your Customer, alternatively known as know your client or simply KYC, is the process of a business verifying the identity of its clients and assessing their suitability, along with the potential risks of illegal intentions towards the business relationship.

Source: en.wikipedia.org

Galileo: Banks Need to Predict Customer Experience to Combat Fraud
Galileo: Banks Need to Predict Customer Experience to Combat Fraud
August 26, 2024  |  Security & Fraud

Forget everything you knew about fraud and fraudsters. Financial institutions must grapple with the dual challenge of countering increasingly sophisticated fraud attacks as fraudsters harness...

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Axle Automation Raises $2.5 Million to Grow AI-Powered AML/KYC Solutions
Axle Automation Raises $2.5 Million to Grow AI-Powered AML/KYC Solutions
August 05, 2024  |  Investments

Axle Automation raised $2.5 million in a seed funding round to grow its artificial intelligence (AI)-powered anti-money laundering and know your customer (AML/KYC) solutions. The...

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Niva Raises $3.3 Million for AI-Powered Business ID Solution
Niva Raises $3.3 Million for AI-Powered Business ID Solution
July 08, 2024  |  Investments

Business identity platform Niva has launched after raising $3.3 million for its verification solution, according to a Monday (July 8) news release. Verifying the identities of small and...

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FiVerity Unveils Risk Management and Fraud Prevention Platform
FiVerity Unveils Risk Management and Fraud Prevention Platform
June 25, 2024  |  Fraud Prevention

Identity verification and fraud prevention firm FiVerity is launching its Identity Trust Management platform. The platform integrates features such as enhanced know your customer (KYC)...

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Nonbanks, Systemic Risks Highlight Need for ‘Know Your Business’ Due Diligence
Nonbanks, Systemic Risks Highlight Need for ‘Know Your Business’ Due Diligence
June 20, 2024  |  Authentication

For banks, forging partnerships with nonbanks and FinTechs has been a key way to capitalize on growth opportunities in private credit. But the increasing connectedness...

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Verification Innovations Help Boost Compliance and Fraud Prevention
Verification Innovations Help Boost Compliance and Fraud Prevention
June 07, 2024  |  Authentication

It’s been a busy few weeks in the realm of identity verification. Fraudsters are wily, it’s true — leveraging technology, particularly AI, and stolen data,...

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Thredd’s McCarthy Gets Down to the Business of FinTech
Thredd’s McCarthy Gets Down to the Business of FinTech
May 29, 2024  |  Payments Innovation

Defining “payments modernization” is no easy task. If you asked 10 different payments executives to define it, you might get 10 different answers. But for...

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Treasury Prime and Footprint Team on ID Verification
Treasury Prime and Footprint Team on ID Verification
May 28, 2024  |  Identity

Embedded banking software firm Treasury Prime has teamed with fraud, identity and security platform Footprint. The partnership, announced Tuesday (May 28), gives banks and their...

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Banks Need ‘Change Management Checklist’ in Battle Against Fraud
Banks Need ‘Change Management Checklist’ in Battle Against Fraud
April 26, 2024  |  Fraud Prevention

Artificial intelligence (AI) holds the promise to transform all manner of industries — helping banks, in particular, improve their anti-money laundering (AML) efforts. But as...

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