Earlier this week we had the pleasure of exhibiting our ID & Verification solutions at the 3rd Money20/20 Europe in Amsterdam. Over the course of 3 jam-packed days, the event saw the largest tech organisations showcasing their new user-friendly technology for the financial market. The trade show exhibited over 2000 industry leaders as well as various keynotes from the likes of Apple, Visa and ING Group, BBVA, Paysafe, Visa, Mastercard, PayU, American Express, and many others. Money2020 also provided a fantastic platform for networking and enjoyment during the evenings.
This year’s Money2020 saw a focus shift towards themes such as AI, blockchain applications, diverse payments and open banking. It also spotlighted how trustworthy digital identities can or can’t be. Not only are there many inadequacies of paper document verification processes (just because a document is official, does not mean to say the customer is the rightful owner), there are an abundance of forged or stolen identity documents readily available on the dark web. Improvements in this area, such as the use of digital footprints verification and facial recognition for example, can help to corroborate identity details including name, age and location.
Open banking and innovations in the payment industry are vital in the digitalisation of the consumer market. Money2020 provided us the opportunity to look to how consumers and business will go about their monetary interactions in the future with new technologies. The finance industry has seen a dramatic rise in new innovations in recent years such as digital mobile-only banking services such as Monzo and Revolut cards and Biometric payments through Apple and Android Pay. These revolutionary advancements have demonstrated how the industry has adapted and improved over the past few years in accordance to the ever-increasing consumer demand for convenience and easy access. Proving incredibly popular with millennials, these advancements also provide somewhat of a prediction of the future of the market, with consistent and continued growth in easy to use products such as the aforementioned payment systems.
Taking part in the event provided us with the perfect opportunity to showcase how we can create full, 360-degree pictures of their consumers to reduce the risk of fraudulent transactions. Our solutions provide companies to verify the identity of consumers during the transaction or application process using a multi-pronged approach to ensure effective and efficient verification.
To find out more about how to improve your identification verification processes or chat about any of our other products, check out our product page or get in touch to speak to one of our experts today.
MORE LIKE THIS
The Future of Retail: Our Round Up
It’s been a few weeks since we held our panel discussion around The Future of Retail. We had an incredible line up of panelists, including Hannah Anderson, Director of Social & Creative at Media Chain and Founder of The Pud Store, Frances Bishop. A huge thank you to all eight panelists for joining us and […]
Is there a way to prevent under-age sales of e-cigarettes?
The ‘epidemic surge’ in teenage use of e-cigarettes in the US is seemingly becoming a bigger and bigger issue, with the FDA giving businesses just 60 days to prove that they are not selling devices and juices to minors.In 2017, there were more than 2 million middle and high school students regularly using e-cigarettes. The […]
The Rise of Card Payments
Are cash payments truly falling?With the use of contactless and card payments rising, they now account for over three quarters of the value of the UK’s retail purchases. The latest British Retail Consortium’s (BRC) payments survey for 2017 states that cards were used for £277.1 billion worth of payments, equaling 76% of all retail sales.Due […]