Customer identity and verification (ID&V) processes are a critical part of compliance for regulated businesses. These checks are designed not only to meet regulatory requirements but also to protect businesses from fraud, secure customer information, and improve the overall user … Read More
IDV
Remote onboarding made easy: Vet and verify directors in 5 steps
Learn how to simplify remote onboarding with a 5-step director verification process. Streamline compliance, reduce risks, and ensure secure onboarding from anywhere. … Read More
Remote director verification for KYB: What compliance teams need to know
The rise of digital business has reshaped how companies approach compliance, particularly in verifying the identities of directors during Know Your Business (KYB) checks. As regulatory expectations grow and financial criminals grow more sophisticated, verifying the identity and legitimacy of … Read More
5 things to consider when choosing right to work software
In today’s fast-paced business environment, HR and hiring managers increasingly rely on technology to streamline their processes and improve overall efficiency. With digital right to work software, the entire recruitment and onboarding process can be dramatically improved, meaning your employees … Read More
What are the Consequences of Inadequate Right to Work Checks?
Every UK employer has a legal obligation to carry out Right to Work checks on prospective employees to prevent illegal working in the UK. Guidance issued by the Home Office expects employers to carefully and systematically verify each employee’s identity … Read More
Why Should you Automate Identity and Verification for Customer Onboarding?
ID verification is a non-negotiable element when onboarding new customers. It’s an essential part of the Know Your Business (KYB), Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. When done well, it supports the business in creating long-term customer … Read More
Compliance Cost of Amber Management
A world of binary results of either pass or fail, (Green or Red) would be nirvana; but that just isn’t realistic. There will always be cases that require further due diligence before you safely commit to onboard, or continue to interact with the customer, or not. Ambers are those cases that fall between the ‘accept’ or ‘decline and cause your business a challenge. … Read More
Building Societies Digital Transformation
Digital transformation projects have been fast-tracked for Building Societies Learn more now. … Read More
Why is ultimate beneficial ownership verification important?
Ultimate Beneficial ownership verification and ongoing monitoring is now an essential component of the KYC onboarding and anti-financial crime procedures. However, peeling back the complex legal structures designed to conceal Ultimate Beneficial Ownership (UBO) represents a significant challenge. In this blog, we explore the confusion over multiple beneficial ownerships, the complexity share structures, understanding Trusts and how you minimise risk exposure when onboarding and monitoring UBOs. … Read More
Beneficial Ownership Monitoring is Fundamental for Global Economic Recovery
How well do you know your customer? As the pandemic continues on a global level, your clients’ risk status is changing at unparalleled speed. Effective ‘continuous KYC monitoring’ is essential for Compliance Officers if they want to stay ahead of the criminals. In 2020 firms have made significant investments in digitally transforming the front end of compliance at the point of onboarding, however many firms have not digitally transformed their monitoring processes, exposing their business to increasing levels of risk. In this blog we explore ongoing monitoring further. … Read More