MoneyLaundering

AML & KYC: What Is the Difference?

The global regulatory landscape is diverse and financial institutions must keep pace with developing rules in order to remain compliant. Given the proximity of terms like ‘AML’ and ‘KYC’ and the fact that they are often used interchangeably, it can be difficult to understand how they differ in a regulatory context. In this post, we look to explore the function of these terms and how they relate to each other.

UnbankedGlobe

The World’s Unbanked Population

Currently, there are two billion people worldwide who cannot access financial services because their data is not held on ‘traditional’ sources. There is a clear disparity between these ‘unbanked’ populations and those whose data is held online through the use of the internet and smart devices…

Recently, we explored how FinTech solutions are beginning to create more inclusive financial services, but what is the current state of play around the world?

BankBuildings

The Biggest Threats to Banks

Today’s financial landscape is very different to that of yesteryear. Countless new business practices, regulations and compliance procedures have emerged, while technological innovation has rapidly changed business models and operational processes.

Those who wish to access financial services are no longer limited to the banks on their local high-street; technological advancement and an influx of funding has provided options while opening doors to a previously unbanked population. This, along with increased regulations and cyber-security risks are just some of the modern-day threats to banks.

The Profile of a Fraudster

It is estimated that in 2019, criminals made $4.2 trillion from fraudulent activity worldwide. Millions of people are affected by fraud every year, but how can you take measures to prevent it and what does a typical fraudster look like? With criminals using more and more sophisticated methods of fraud, it’s never been more important to safeguard your identity.

Black Friday: Make Sure You Can Handle the Demand

As the festive season approaches, the retail landscape this year is very different to almost any in living memory. Black Friday signals the busiest shopping weekend of the year, and while high street stores up and down the country have been forced to close their doors, it’s never been so important for businesses to provide a first-class digital experience.

Crypto Stock Value

What Affects the Value of Cryptocurrency?

Cryptocurrency has long been a volatile market, with rises and falls of 40% or more in a matter of days not uncommon. But, with volatility comes opportunity and some savvy investors have capitalised on massive gains over the years.

The value of cryptocurrencies like Bitcoin have recently risen to their highest price in years, but what drives these price changes?

FraudWeek - Header Image

Hello Soda is an Official Supporter of International Fraud Awareness Week

The world is a very different place to what it was last year, never mind 10 years ago. The adoption and use of digital technology has been accelerated due to advances in AI and alternative data.

This acceleration in growth has had a massive impact on the way we live our daily lives, but it’s also had an impact on how exposed our identities can be to fraudsters.

Avoid Onboarding Mistakes

The Most Common Mistakes When Onboarding New Gaming Players

The initial interactions a new customer has with your business set the tone for the entire relationship; the likelihood of a customer sticking with you (and recommending you to others) increases with the level of emphasis you put on creating an excellent onboarding process.

That’s why it’s important to make sure your onboarding process is robust, efficient and compliant and your customers can begin using your products as quickly as possible, with minimal drop-offs. Here, we explore some of the most common mistakes operators make when onboarding new gaming customers.

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