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)

Sparkle COO Says Open Banking Builds Trust by Putting Consumers in Control of Their Data
Sparkle COO Says Open Banking Builds Trust by Putting Consumers in Control of Their Data
April 19, 2023  |  Digital Banking

After years of advocacy, open banking is now live in Nigeria, the first country in sub-Saharan Africa to adopt the regulation. The launch marks an...

READ MORE >
25% of Bankers Say Banking-as-a-Service Tech Will Boost Revenue
25% of Bankers Say Banking-as-a-Service Tech Will Boost Revenue
March 07, 2023  |  Banking

Businesses that neglect digital experiences risk losing business and falling behind their more innovative peers. This, as digital banking has quickly become a default means...

READ MORE >
Visa Teams With F5 on Secure eCommerce Checkout for Merchants
Visa Teams With F5 on Secure eCommerce Checkout for Merchants
March 06, 2023  |  Retail

Security firm F5 has partnered with Visa to help merchants reduce friction at checkout. “Customers expect seamless commerce experiences and transactions to be secure,” the companies said in a news...

READ MORE >
Reserve Bank of India Imposes $375,000 Penalty on Amazon Pay
Reserve Bank of India Imposes $375,000 Penalty on Amazon Pay
March 03, 2023  |  Regulation

The Reserve Bank of India (RBI) has imposed a $375,000 penalty on Amazon Pay (India) Private Limited. The move followed the central bank and regulatory...

READ MORE >
Payments Vaults Evolving as Retailers Prioritize a Secure Consumer Experience
Payments Vaults Evolving as Retailers Prioritize a Secure Consumer Experience
February 16, 2023  |  Security & Fraud

Payments vaults are moving to the forefront of many businesses’ customer experience strategies. Joseph Meuse, vice president of product management at Spreedly, told PYMNTS in...

READ MORE >
Avoiding the Network Effect of B2B Payments Fraud 
Avoiding the Network Effect of B2B Payments Fraud 
February 14, 2023  |  B2B Payments

B2B networks leveraging the latest technologies are only as strong as their weakest link. As business-to-business (B2B) relationships evolve to become online-first and more companies...

READ MORE >
How AI Use Cases in Payments Are Moving Beyond Fraud
How AI Use Cases in Payments Are Moving Beyond Fraud
February 14, 2023  |  artificial intelligence

As artificial intelligence (AI) gets smarter — as it’s designed to do over time and as usage increases — there are more places in the...

READ MORE >
Chainalysis Says It’s Time to Find Out What’s Real in Crypto
Chainalysis Says It’s Time to Find Out What’s Real in Crypto
February 07, 2023  |  Cryptocurrency

The time is ripe for financial institutions to explore what cryptocurrency offerings their customers want. That’s despite 2022’s bear market, Jeff Billingham, director of strategic...

READ MORE >
Digital ID and KYC Platforms Potent Weapons Against Accounts Receivable Fraud
Digital ID and KYC Platforms Potent Weapons Against Accounts Receivable Fraud
February 03, 2023  |  Security & Fraud

 Not knowing who’s on the other side of the transaction is expensive.  As noted here last month, financial institutions (FIs) were fined nearly $5 billion for...

READ MORE >