Identity Verification Blog

MoneyGram uses Mobile Verify to reduce fraud loss and account takeover

Learn how MoneyGram integrated Mobile Verify® into 11 websites worldwide in order to achieve their digital onboarding and compliance goals, and to reduce account takeover and payments fraud.

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Infographic: Digital trust in the consumer age

Strangers walk our dogs. They drive us around. They deliver our food. They sell us crafts, furniture and clothes. They rent us rooms. They even care for our children and grandparents. When we let people we’ve most likely never met before into our homes and into our lives, we’ve got to trust them unconditionally. But do we? Exactly how much do we actually trust these sites, services and profiles with whom we do business?

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Consumer trust in the digital age Part 2: social media

Social media platforms are among the areas of the web where consumers are most concerned about identity and whether the people and accounts they’re interacting with are legitimate. Increasingly, it is becoming clear that the foundation of trust in the digital channel lies in identity verification.

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Bob Meara's key recommendations for digital customer acquisitions

Bob Meara, senior analyst with Celent’s banking practice, recently developed a vendor spectrum report of identity verification solutions for digital customer acquisition. In it, Meara lists his key industry recommendations for better digital customer acquisition. Read an excerpt here.

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Consumer trust in the digital age: Part 1

Read our first installment of a two-part blog series on how today’s era of “Fake News,” bot accounts, wide-scale data breaches and identity theft are affecting consumers’ willingness to conduct business and personal transactions in the digital channel.

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Mitek achieves SOC 2 compliance and ISO 27001 certification

Frank Delker

Mitek is now both SOC 2 compliant and ISO 27001 certified. Both programs provide an international gold standard for best practices in establishing and maintaining internal controls over information security, as well as systems availability.

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Identity verification key to success for cryptocurrency sector

Many believe that growth in the cryptocurrency ecosystem could change the way our global economic system operates. However, success will be unattainable unless crypto can shed its negative reputation. Read how the right balance of security and seamlessness will help.

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Making Online Banking Initiation Legal and Easy (MOBILE) Act: It’s Official

The Making Online Banking Initiation Legal and Easy (MOBILE) Act officially became law on May 24, 2018, authorizing a national standard for banks to scan and retain information from driver’s licenses and identity cards as part of a customer online onboarding process, via smartphone or website.

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The Need for Identity Verification in the News

Protecting Users, Reducing Fraud, and Complying with KYC Through Identity Verification. Do you want your organization to thrive or simply survive? Protect your customers and ensure AML compliance with Mitek.

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Do ICOs have to Register as Money Service Businesses?

Neal Reiter

Screening contributors for anti-money laundering (AML) and Know Your Customer (KYC) purposes has become industry best practice among issuers of Initial Coin Offerings (ICOs).

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Trust Top of Mind at the KNOW Identity Conference

Kalle Marsal

The issue of trust has broken through as one of the top concerns for leaders across every major industry. Nowhere was this more clear than at One World Identity’s KNOW Identity Conference in Washington last month.

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The Benefits of Moving to Digital for AML and KYC Compliance

Sarah Clark

Consumers want the convenience of signing up through digital channels, but financial institutions must comply with stringent anti-money laundering (AML) and Know Your Customer (KYC) regulations that typically send new customers out of their preferred (digital) channel for identity verification.

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What does success look like? Working towards the magic mobile deposit adoption rate

Financial institutions should pay close attention to their rate of check deposits in the mobile channel as it is a clear indicator of progress towards broader digital adoption. Currently, 12% of checks deposited by retail banking customers are coming in via the mobile channel; the numbers should be well north of 30%.

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The Time for Mobile Banking to be at The Core of Business Banking is Now

Michael Diamond

Financial institutions should pay close attention to their rate of check deposits in the mobile channel as it is a clear indicator of progress towards broader digital adoption. This is especially important as C2B and B2B checks account for roughly two-thirds of all check deposits and that checks are here to stay for the foreseeable future.

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Making Online Banking a Reality in The US: All You Need to Know About the MOBILE Act

Learn all you need to know about the H.R. 1457 Bill, ‘Making Online Banking Initiation Legal and Easy’, better known as the MOBILE Act. This bill creates a national standard to authorize banks and other FIs to scan and retain information from driver’s licenses and identity cards when a consumer opens a bank account online, either using a mobile app or the FI's website.

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A sneak peek into 2018: Blockchain-banks partnerships bloom and digital KYC checks go mainstream

Aimed at providing a sneak peek into 2018, we have leveraged our unique insights and market knowledge, predicting five key changes that will redefine the future of financial services, shake up the sharing economy as we know it today and help organizations around the world enable the truly digital lifestyle consumers demand.

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Expert Advice – How to get ready for the future of ID & KYC with digitized identity verification

To gain a competitive edge, remain compliant, and offer a frictionless and user experience, it is imperative for FIs to invest in technologies that bridge the compliance-convenience gap.

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The AML and KYC compliance burden for banks and payments firms, by the numbers

Much has changed since legislators supporting the Bank Secrecy Act (BSA) emphasized back in 1970 that the new law would not be a burden to financial institutions because they already kept most of the records required. Almost fifty years after the BSA was published, the burden for financial institutions having to comply with numerous, stringent regulations has nothing but grown exponentially.

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2017 Mobile Deposit Benchmark Report – A Must-Have Playbook for FIs to Succeed With Their Digital Endeavors

Jim Van Dyke, founder of Futurion and mobile banking expert, presents his new research, the 2017 Mobile Deposit Benchmark Report, and shares his insights about how financial services in the U.S. should optimize their mobile deposit customer experiences to take their onboarding to the next level.

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Equifax hack: a catalyst for more secure and convenient identity verification processes

The cyber attack suffered by the U.S. based credit rating agency has left hundreds of millions of Americans more vulnerable than ever to identity theft, dramatically increasing the risk of fraud for both businesses and consumers, and forcing regulators to re-think their approach to secure and user-friendly methods of identity verification.

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