New Irish Regulation Opens the Door to Digital Onboarding

Financial regulation is often seen as a burden, however, in this instance, it represents the opportunity for Ireland’s financial services organizations to revolutionize customer onboarding.

In Section 33 of the Criminal Justice Money Laundering and Terrorist Financing 2010 Act (relating to customer due diligence), the law provides for “electronic verification of the customer’s identity on the basis of documents”.