“Accuity, the leading global provider of financial crime screening, payments and Know Your Customer (KYC) solutions, and Encompass Corporation, a fast-growing provider of intelligently automated KYC solutions, have announced a strategic partnership to help customers streamline KYC processes, improve the quality of risk assessments and reduce the costs of compliance.”

“Mobile financial service provider, bKash launched e-KYC (Electronic-Know-Your-Customer) app so that customers can open their account by themselves. The eKYC app would allow customers to open their bKash account with instant activation only scanning NID and taking photo without any documents, said a press release yesterday. Using OCR (Optical Character Recognition) to collect data from NID, face detection technology and cross matching data with Election Commission (EC) database, the app is making the whole system more integrated and less operational complexity.”

“The collaboration of six Nordic banks results in a joint KYC company. Danske Bank A/S, DNB Bank ASA, Nordea Bank Abp, Skandinaviska Enskilda Banken AB (publ), Svenska Handelsbanken AB (publ) and Swedbank AB (publ) are moving forward and have established a joint venture company to develop a platform for handling KYC (Know Your Customer) data. The European Commission has given its approval in accordance with the EU merger control rules.”