Companies that keep digital identity verification in-house face a pronounced exposure to adversarial bots and agents: 53% report know-your-agent (KYA) related incidents or losses, compared with 28.8% of firms using a mix of internal and external teams and 24.1% of those relying on external providers....
Plaid and digital identity wallet ID.me launched a benefits payments partnership, according to a Thursday (Sept. 17) news release. The collaboration is designed to combine ID.me’s wallet with Plaid’s financial account verification tools, letting government agencies confirm that the account receiving a payment belongs to...
Faster payments leave businesses with less time to discover whether the account at the other end belongs to the wrong person, contains bad information or may be connected to fraud. That pressure is moving verification closer to the point where money leaves the sender. A...
Payments modernization budgets are lining up behind identity, reconciliation and automation, providing a clearer picture of what businesses intend to build next. PYMNTS Intelligence data, in collaboration with Plaid, shows 65% of firms plan to adopt or expand identity verification and know-your-customer (KYC) automation within...
Financial firms have confidence to spare in digital identity systems, even when the results leave plenty of room for improvement. The January 2026 PYMNTS Intelligence report “Digital Identity Verification in the Age of Bots and Agents” draws on a survey of 350 companies across financial...
A Financial Crimes Enforcement Network (FinCEN)-observed pilot is testing whether completed customer verification work can be documented in standardized records and evaluated by other financial institutions. The pilot is being coordinated with the U.S. Treasury Department, the Office of the Comptroller of the Currency and...
Checkr has expanded its verification platform by acquiring Truv, a provider of consumer-permissioned income, employment and asset verification, Checkr said in a Tuesday (Aug. 18) press release emailed to PYMNTS. The acquisition builds on Checkr’s expansion of its offerings over the last year to include...
Watch more: Verified Once, Trade Everywhere: Turning KYC Into a Growth Engine Identity verification has a peculiar economics problem: The controls designed to keep the wrong customer out can also keep the right customer from getting in. That tradeoff is becoming harder to treat as...
Dead people don’t spend much, but the federal government nearly sent them tens of millions of dollars anyway. The U.S. Treasury Department said Tuesday (July 21) that its government-wide verification process found more than 4,900 payments worth roughly $99 million associated with deceased payees. The...