Exploring challenges of customer’s identity in AML/KYC Compliance
Whether you are applying for a credit card or opening a new bank account, there is a KYC behind the onboarding process to deter criminal elements from utilizing financial institutions for money laundering activities. To kick things off, you need to know who you’re dealing with by collecting customer and business information, but are you…
Ensuring compliance excellence – Insights into KYC/CDD solution verification and validation process
Verification (are we building the product right?) and validation (are we building the right product?) process is a key aspect in software development. This is particularly important for financial crimes compliance solutions dedicated to banks and other financial institutions. Let’s focus on Know Your Customer (KYC) process of verifying the identity of customers and Customer…