Revolut and the Federal Reserve are in the news this week after suffering two banking infrastructure compromises. However, the most interesting thing about the separate incidents isn’t what happened; it’s what did not. Hackers did not have to break into Revolut to obtain sensitive customer...
Treasury may raise longstanding bank reporting thresholds and take into account how long financial institutions have known their customers, Treasury Secretary Scott Bessent told lawmakers Tuesday (Sept. 15). House Financial Services Committee Chairman French Hill, R-Ark., asked Bessent about updating thresholds for Suspicious Activity Reports...
Know-your-customer (KYC) checks are expensive partly because a bank isn’t simply verifying an identity. Compliance teams have to collect information from documents, reconcile it across systems, investigate potential risk factors and build an auditable record explaining how they reached a decision. Incore Bank, a Swiss...
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...
August 25, 2026
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 the next 12 months, putting it ahead of secure bank […]
August 19, 2026
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...
August 12, 2026
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...
May 14, 2026
A collaboration between PYMNTS Intelligence and Trulioo, “Built or Bought: How KYC/KYB Ownership Shapes Risk, Cost and Growth” examines how companies’ choices about identity verification ownership shape fraud risk, operating...
September 17, 2026
Hackers claiming to have breached British FinTech Revolut have now reportedly issued a ransom demand. The group, known as “iamnotavillain,” is threatening to sell confidential information about hundreds of customers unless the online bank pays a roughly $3 million ransom within 24 hours, the Financial Times reported Wednesday (Sept. 16). “Revolut has not received any […]
February 10, 2026
Bretton AI rebranded from Greenlite AI and raised $75 million in a Series B funding round to expand the deployment of artificial intelligence across financial crime operations in regulated financial...
October 27, 2025
Global data and technology company Experian has acquired regulatory technology provider KYC360 in the United Kingdom and Ireland. KYC360’s customer lifecycle management solutions, which support know your customer (KYC) and...
October 27, 2025
Trulioo has recorded substantial growth in its know-your-business (KYB) transaction volume since 2023. The identity platform announced Monday (Oct. 27) that its KYB transaction volume had grown 1,996% during that...
