Know your customer (KYC) stories - Page 7

ABBYY unveils Document AI API, a developer-friendly tool to convert unstructured business documents into accurate data, boosting automation in workflows.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

Kore.ai has unveiled AI for Process, a no-code platform designed to revolutionise enterprise workflow automation and optimise decision-making.

In an era where speed and efficiency are paramount, banks must decide between building custom KYC systems or investing in advanced SaaS solutions to enhance client onboarding.

Encompass has unveiled its EC360 platform to revolutionise corporate client verification in banking, addressing outdated processes amid rising competition.

Credas Technologies in Cardiff has seen a remarkable 40% surge in its customer base, surpassing financial targets by 60% as it prepares for international growth.

Appdome has launched Threat Dynamics, an AI-enhanced mobile defence platform aimed at pre-emptive threat management for mobile businesses facing rising fraud.

Microblink has reported robust growth in 2024, buoyed by rising demand for its identity verification solutions and expanded integration on Google Cloud.

A study by Juniper Research forecasts that global non-financial businesses will spend USD $22 billion on KYC/KYB systems by 2029, marking a 140% increase.

Identity fraud in Europe has surged by 150% year-on-year, with deepfake use escalating sharply and businesses reporting widespread challenges.

Veriam has unveiled a groundbreaking platform that seamlessly integrates identity management, access control, and subscription services to simplify business operations.

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

SQR has been acquired by UK-based SQRx, aiming to boost digital identity growth. Entrepreneur Grahame Chilton, SQRx's largest shareholder, sees it as a 'groundbreaking' move.

Cybersecurity firm Acronis has identified a staggering 293% increase in email cyberattacks during the first half of 2024 compared to 2023.

Appdome has bolstered its Geo-Fraud Detection service with Geo-Location Fencing and Geo Desync Attack Detection to better protect mobile apps from location-based fraud.

TanX has hit a quarterly trading volume of USD $1 billion, marking a 70% rise and underscoring the growing reliance on decentralized trading platforms.

ReliaQuest's latest report reveals cybercriminals are exploiting ChatGPT and other AI tools to create near-perfect phishing emails, achieving a 2.8% success rate.

Encompass appoints Andrew Dunn as VP of Engineering, tasked with leading the strategic delivery of its CDI platform to enhance global banking solutions.

Lucinity unveils an advanced AI copilot plug-in at Money2020 Europe, promising instant ROI and up to 90% productivity boosts for financial institutions.

First AML has partnered with Open Banking tech platform Armalytix to boost Source of Funds and Source of Wealth capabilities for large conveyancing firms.