Facial Recognition vs Facial Authentication

Facial Recognition vs Facial Authentication

Facial recognition and facial authentication both provide businesses with a way of identity verification for their customers, but there seems to be a lot of confusion around the differences between the two methods.

So what is the difference between facial recognition and facial authentication, and how can businesses benefits?

6AMLD What You Need To Know

Understanding 6AMLD and the risk to your business

The EU 5th Anti-Money Laundering Directive (5AMLD) came into place in January 2020. By December 2020 the next iteration is to be implemented, the 6th Anti-Money Laundering Directive (6AMLD) introduces even more changes, and regulations that businesses have to comply with. 

Regulators and governments are regularly looking for ways to protect customers, whilst tackling fraud, money laundering and cybercrimes that, unfortunately, are just some of the risks customers could face when using online services.

Digital Identity Verification - Financial Inclusion

How digital identity verification will improve financial inclusion

It’s believed there are over 1 billion individuals (World Bank) around the world who don’t have official identification and 1.7 billion people who are considered financially excluded.

The global pandemic has resulted in an increasing demand for digital identity verification solutions to ensure inclusion for all, even those with limited or no identification.

How lenders can automate customer onboarding

How lenders can automate consumer onboarding

In recent years, digital onboarding methods have enabled online lenders to grow rapidly. Traditional lenders, such as banks, have been unable to keep up with the streamlined consumer experience offered by their online counterparts.

Implementing a digital-first approach for onboarding consumers when applying for online lending services has contributed to a huge rise in consumer loan growth.

Remote Onboarding and Regulations Globally

How remote onboarding & regulations are being addressed globally

Around the global financial service providers are regulated for the purposes of minimising fraud, reducing money laundering and limiting the funding of crime & terrorism.

Today, many of the financial markets have to comply with global regulations, such as the 5th EU Anti-Money Laundering Directive (read our guide on how to comply with 5AMLD) and Financial Action Task Force (FATF).

Hidden costs of poor customer onboarding

Don’t be caught out by hidden costs of consumer onboarding

All businesses are looking to acquire new customers, but their competitors are too. A poor onboarding process can frustrate new customers which can result in greater volumes of abandonment. This means a business will increase its acquisition costs and worst still it will create a poor brand experience which in some cases can cost a business more.

Signing up new customers even when performing KYC checks should be simple. Get the whole process wrong and you can run into issues with identity and payment fraud, regulatory failures and increased operational costs.

Ultimate Beneficial Owner? With AML5 there will be a whole lot more blog

Ultimate Beneficial Owner? With AML5 there will be a whole lot more

AML5 ahoy! In the 5th incarnation of the Anti-Money Laundering Regs more people will have to be verified for KYB. Rather than one Ultimate Beneficial Owner (UBO), now anyone with a 25% share (or in a significant shareholding group) will have to be verified.

In this blog we tell you about a key detail of AML5, and how we can help you meet the new regulation coming into effect in January 2020.    

How we enable e-commerce companies to implement SCA blog

How we enable e-commerce companies to implement SCA

The PSD2 deadline of September 14th has passed, but some e-commerce companies still have time to implement SCA for online card transactions (possibly up to 14 March 2021). As such, for those who still need to implement SCA, all of the information below still applies. 

In this blog we give you a quick summary of what you need to know, what you need to do, and the solutions we provide to ensure all-important Strong Customer Authentication (SCA). 

How to minimise potential disruption with PSD2 blog

How to minimise potential disruption with PSD2

Learn how to avoid unnecessary problems for customers, and instead improve conversions.

The PSD2 deadline of September 14th has passed, but some e-commerce companies still have time to implement SCA for online card transactions (possibly up to 14 March 2021). As such, for those who still need to implement SCA, all of the information below still applies. 

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