Traditional KYC procedures often involve intermittent reviews that may fail to capture changes in a customer's risk profile over time. The advent of perpetual KYC transforms this approach by implementing continuous monitoring and updating of customer information.
On June 6, 2023, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Federal Reserve jointly published new requirements for banking organizations in managing the risks related to their third-party programs.
In the world of financial services, computational capacity and the ability to achieve peak performance are linked. Having as much compute power as possible on a daily basis allows financial institutions to perform complex calculations to navigate a host of challenges, including competitive pressures, regulatory reporting, security demands and market swings.
Recent research from American Banker shows that while banks are making progress with their digital initiatives, many are still struggling with areas such as onboarding, identity verification and cybersecurity. This white paper sheds light on where banks are in their digital journey and – more important – how they can better address issues around customer experience, customer identification and fraud prevention.
What are the best options out there for people living on the edge financially who have an emergency expense? The Global Black Economic Forum and the Center for Business and Economic Research recently completed a study called the 2023 Cash Poor Report that dives into this question.
Hear from leading technologists as they share their transformation journeys. Discuss why Digital transformation matters, highlight challenges/ lessons learned, and opportunities with emerging and disruptive technologies.
Industry & digital disruption are accelerating in financial services. In an increasingly crowded market, first-movers are looking beyond legacy CX methodologies to generate business value and establish a competitive advantage.
When Congress passed the AML Act of 2020 in January of 2021, it was stated that FinCEN would have the authority to "streamline, modernize, and update the AML/CFT regime of the United States."
AI has become a transformative force in the financial services landscape. The industry is continuously evolving, and AI is accelerating the rate of change. Simply put, financial institutions that fail to responsibly integrate AI will be put at a severe competitive disadvantage.
Tune in to hear the latest on what your peers are doing and thinking when it comes to the customer and digital processes to make sure your bank isn't left behind.
Traditionally, the intelligent document processing industry has relied on machine learning to extract data from unstructured documents. The issue is that this solely relies on pattern recognition which limits the level of accuracy of data extraction, is costly and takes months to build and train the data extraction model.
With rising interest rates and economic uncertainty, the CD is re-emerging as a more important savings tool which makes now the perfect time to create a national marketplace devoted to this product.
Your customers love cash back. Every big bank and most neo banks offer a 'card linked offers' program that provides cash back to customers based on where they spend their money. But too often there are too few poorly targeted offers available to customers. Both you and your customer deserve better.
