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July 21, 2020
On the wires
“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.”
July 10, 2020
On the web
The Times of India
“Paytm Payments Bank Ltd (PPBL) will allow account-holders to complete their KYC formalities over mobile video. This follows the Reserve Bank of India’s decision to allow video KYC for completing the process remotely using the bank’s mobile application. Customers can connect using a vide call between 9 am and 8 pm without leaving their homes or having any bank representatives come over during the pandemic.”
December 16, 2019
On the web
“CULedger claims that MyCUID users can verify their identity by using a biometric function on their smart phone, such as voice, fingerprint or facial recognition. The vendor says that data from its pilot indicated that the average time to verify a member’s identity had been reduced from the industry average of more than 50 seconds to ten or less. “As financial cooperatives, credit unions are more inclined to work together than their bank counterparts in order to best serve their members’ needs,” said John Ainsworth, president and CEO of CULedger.”
August 9, 2019
On the web
Dhaka Tribune (Bangladesh)
“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.”
July 8, 2019
On the wires
“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.”
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