Supporting criminal activity and risking substantial fines from regulators that also damage their reputation are not things any financial institution aspires to. Yet many are exposing themselves to such risks because they are not doing enough to prevent money laundering. With digitalisation creating new opportunities for money laundering to take p...
08 December 2023 /regulation /inclusion Digital Identity Management
Finextra recently reported that many of those in financial services were found wanting with their sanctions screening efforts by the Financial Conduct Authority (FCA). After a survey of sanctions controls at 90 firms the FCA uncovered deficiencies across staffing, technology and reporting networks, leading to a lack of adequate resources to ensure...
16 October 2023 /regulation /identity Digital Identity Management
Fraud, whether by an individual or a business, is on the increase. This is largely due to many banking services being accessible online – a convenience that comes with some risk. To help prevent fraud, as well as to ensure compliance with existing know your customer (KYC) and Anti-Money Laundering (AML) regulations; know your business (KYB) and KYC...
26 September 2023 /regulation /identity Digital Identity Management
Speeding up business processes and tasks is something evolving software-as-a-service (SaaS) has been instrumental in delivering. Today, as SaaS reaches maturity, it offers great value to those in financial services to improve the way they operate. Efficient, cost effective and easy to deploy Due to SaaS tools being able to be accessed instantly thr...
14 July 2023 /regulation /identity Banking Strategy, Digital and Transformation
Many financial institutions are experiencing share price fluctuations and some uncertainty as events play out from the collapse of the Silicon Valley Bank and Signature Bank. While navigating their way through the current macroeconomic climate it’s very important, if they are not already doing so, to focus on delivering a competitive advantage to h...
17 March 2023 /regulation /identity Banking Strategy, Digital and Transformation
With inflation hovering at around ten per cent, triggered largely by the growth in energy prices due to the conflict in Ukraine, costs for many financial institutions are spiralling at a rapid rate. It’s leaving many worried about remaining competitive in the future as they contemplate price rises for products and services. Those in financial ser...
16 January 2023 /retail /identity Digital Identity Management
Tim AnnisUK Managing Director at Bluechain
Suman RaoUK managing director at Avaloq
Jerry MulleUK Managing Director at Ohpen
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