Blog

May 2, 2018

Blog Entry

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.

April 23, 2018

Blog Entry

Do ICOs have to register as money service businesses?

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). Doing so signals a level of regulatory compliance, even as regulators around the world are still developing the framework.

April 12, 2018

Blog Entry

Trust Top of Mind at the KNOW Identity Conference

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.

Rattled by the latest round of high-profile breaches of customer data, managers and executives from the financial, travel, telecommunications, and other industries attended in greater numbers than before at this conference. Clearly this is because we’ve reached a tipping point.

March 29, 2018

Blog Entry

The Benefits of Moving to Digital for AML and KYC Compliance

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.

March 6, 2018

Blog Entry

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%.

February 22, 2018

Blog Entry

The time for mobile banking to be at the Core of Business Banking is Now

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.

February 20, 2018

Blog Entry

The future of identity is digital, are you ready?

Governments, international institutions, and public and private organisations are turning to technology to solve the global digital identity crisis. The first step is to move from traditional, cumbersome systems requiring in-person authentication to a digital identification process, using, for example, identity document authentication and biometric recognition solutions that can identify a person uniquely.

February 20, 2018

Blog Entry

Digital Account Opening in the UK Part III - Key Differences Between Incumbents and Challengers

In the third and last episode of this blog series, John Devlin, Principal and Founder of P.A.ID. Strategies, concludes that making it quick and easy to sign-up and on-board customers is a big differentiator for banks in the UK, with potentially long-lasting benefits for both consumers and financial institutions.

February 16, 2018

Blog Entry

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.

January 30, 2018

Blog Entry

Digital Account Opening in the UK Part II - The Rise of the Neo Bank: End-to-End Digital Service as a Competitive Advantage

This is the second installment of a blog post series authored by John Devlin, Principal and Founder of P.A.ID Strategies, about the current state of digital account opening of bank accounts in the UK.

January 2, 2018

Blog Entry

Digital Account Opening in the UK Part I - Are Banks Responding to the Digital Challenge?

There are a number of challenger banks in the UK looking to shake up the traditional status quo, dominated by the incumbents who have a wide range of accounts and financial services available across multiple channels. The question is, has anyone made the jump to 100% digital on-boarding? Read the answer to this question by John Devlin, Principal and Founder of P.A.ID. Strategies and author of 'UK bank accounts, a survey of true digital capabilities in customer on-boarding'.

December 29, 2017

Blog Entry

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.