Age Verification: New Legal Trends in the KYC Landscape
Gone are the days when a simple “are you over 18?” checkbox would suffice to comply with age verification due diligence. This is particularly worrying given that, according to one study conducted by OLX, 60% of parents admit that they do not monitor what their children do online. Realizing how unrealistic it is to […]
How Criminals Launder Money With Cryptocurrencies
Despite the latest developments regarding their price, cryptocurrencies will most likely keep capturing the attention of financial innovation for the next years. Their penetration is still rising among individuals who use it as a mean of exchange or as an investment, but another kind of user is also emerging as the use of cryptocurrencies gets […]
Striking the right balance between customer experience and regulatory compliance
Security is vital, but let’s not forget that conversion rates are crucial for financial institutions. Having an onboarding process that maximizes this is increasingly important in a digitized world. However, it is essential to strike a balance between security and customer experience. But is it possible to achieve this balance? Digital onboarding has become […]
How to be compliant and ensure a frictionless onboarding customer experience without dying in the attempt?
Approaching KYC in Europe requires several considerations concerning law. The regulation requires banks and financial institutions companies to focus on the national, but also EU level. While in the EU the regulation is a more standard one since it states that banks and financecompanies must adhere to AMLD 5 (coming ALMD6), AML requirements at the […]