Sumsub’s Post

🤝NOTO - 360 Fraud and Compliance Joins FinTech México We are excited to announce that NOTO - 360 Fraud and Compliance has officially become a member of Fintech Mexico, an organization dedicated to transforming Mexico into the leading market for FinTech in Latin America. Fintech Mexico offers an open and transparent collaboration space, aiming to enhance FinTech innovation in Mexico. By leveraging collective knowledge and best practices, they strive to improve financial services for all. Together, we join forces to ignite the growth of the industry in Mexico and Latin America. This partnership aligns perfectly with NOTO's commitment to supporting the FinTech sector with AI-driven fraud and AML prevention solutions. It opens up new horizons, enabling us to actively contribute to fostering innovation and financial inclusion. Stay tuned as we embark on this transformative journey with Fintech Mexico, driving positive change and making a lasting impact on the FinTech landscape in Mexico and Latin America. #Partnership #fintech #regtech #association #latinamerica 

Did you know? German banks spend up to 60% of their compliance budgets on KYC processes, yet 43% lose clients due to inefficient onboarding. Fenergo's "KYC Trend Report" exposes the struggles and opportunities in the industry. 🌐 Germany leads with 22% of banks allocating over half their compliance budgets to KYC. Despite digital advancements, there are still gaps causing significant costs globally and locally. 💰 On average, German banks invest €2,627 per business client in KYC processes, 10% more than the global average. Shockingly, 43% confirm losing clients due to inefficient onboarding, exceeding the global average of 47.5%. ⚙️ Fenergo's report emphasizes the need for automation to save resources. German banks employ 1,800+ staff, while global counterparts achieve efficiency with around 1,500 employees. ⏳ Time is of the essence: 25% of German banks take 121-150 days for a KYC examination, surpassing the global average of 95 days. 🔐 Elevate Your KYC: Discover how BioID enhances security through biometric authentication. Learn more: https://lnkd.in/duhQ4RX . . . #bioid #fenergoreport #kycreport #banking #KYC #Fintech #Biometricauthentication #DigitalTransformation

Excited to share the power of Transaction Monitoring! 🚀 This cutting-edge technology enables real-time detection and analysis of transactions, giving businesses the ability to verify the origin and destination of funds while identifying any potential links to money laundering. It's a crucial tool in today's fast-paced world. Jacob Sever, Co-founder, and Chief Innovation Officer at Sumsub, brilliantly explains how this technology works. 👇 Check out how you can implement Transaction Monitoring in your business: https://lnkd.in/d7DwFEnH #DeepfakeDefense #StaySecure #SumsubProtects #DigitalIdentityGuard #IdentityVerification #TrustworthyTech #fintechnews #fintech #idverification #idv #kyc #identityverification #knowyourcustomer #regtech #compliance #aml #customeronboarding #fintech #digitalidentity #fraudprevention #financialservices #customerverification #amlcompliance #amlcft #regulatorycompliance #TransactionMonitoring #Sumsub #crypto #financialsecurity

In the complex world of digital onboarding, we must be creative and open-minded, and sharpen our knowledge about the latest practices and technologies in digital onboarding, KYC, and KYB. One tool is the first edition of the Emerging Technologies and Trends in Identity Verification, KYC, and KYB Report from The Paypers. This edition includes:  🔑 What’s new in digital onboarding in 2024 🔐🆔What efforts are made in the EU to enable digital identities  🏢🔍Detecting and preventing sophisticated types of fraud by proving Liveness  🔍👤Challenges, trends, and best practices in business and entity verification And more. This overview of the fraud solution providers aims to help #banks, #FIs, #merchants, #fintechs, and #PSPs grasp the current market opportunities. 🙌🏼 Great to feature Nick Mothershaw, OIX - Open Identity Exchange, Anne Bailey, KuppingerCole Analysts AG, Kevin Alan Tussy, FaceTec, Inc., Jason Howard, Caf, William Charnley, MBA, Liminal, Jeff Sakasegawa, Persona 🤩 Link to the full report in the comments below ⬇️ #digitalidentity, #digitalonboarding, #KYC, #KYB, #fraudprevention, #banks, #fintechs, #authentication, #identityverification, #generativeAI, #biometrics, #deepfakes, #data

ICYMI: Increasing Usage of eKYC in Africa: In the first half of 2023, businesses in Africa embraced digital transformation at a fast pace, fueling demand for innovative e-KYC verification solutions. This is evidenced by the surge in The post Increasing Usage of eKYC in Africa appeared first on Fintech Africa. #Fintech #Africa

Navigating the complex world of fintech regulations is no easy task. Learn how innovative approaches can help combat fraud and enhance compliance in the ever-changing landscape. https://lnkd.in/gfqk8Kkn Sumsub #fintech #regtech #fraudprevention #KYC #AML

🔒 Simplify Identity Verification with WorldID 🔒 Navigating the complexities of KYC compliance has always been challenging! Introducing WorldID, your ultimate solution for swift and secure identity verification. 🌍✅ With WorldID, say goodbye to cumbersome processes and hello to efficiency: 📄 Submit personal information seamlessly. 🛡️ Experience the power of advanced verification technology. 🏦 Ensure full compliance with KYC regulations effortlessly. Trust WorldID to safeguard your operations and enhance your compliance strategy. Dive into a world where verification meets innovation. 🚀 Discover more about how WorldID is transforming identity verification ➡️ https://lnkd.in/dV83fBr7 #WorldID #IdentityVerification #KYCCompliance #SecureOnboarding #FinTech

Crowdz, a FinTech company aiming to help small and medium businesses improve their cash flow, needed a technology partner to deliver automated KYC and KYB checks, ensuring a more proactive approach to customer onboarding and validation. 👩💻 Delivering automated and consistent customer onboarding 🌐 Providing access to global data sources for robust AML and fraud checks 🚨 Tracking, monitoring and mitigating any risks at a glance Chief Strategy Officer at Crowdz, Kevin Hopkins, was especially impressed after seeing a reduction in the time it takes to validate businesses before accessing their invoice financing services: "Among all KYB/KYC providers, NorthRow alone offered a quantitative rating system that required mere seconds of processing time in order to determine whether an invoice-selling applicant company was likely to be legitimate, or whether there were troubling signs that would warn us against welcoming them into our program." Read the full case study 🔗 https://lnkd.in/e7XP8fda #AMLCompliance | #KYC - #KYB | #IdentityVerification | #OnboardingExperience

mpe awards 2024 💎 meet the winners! 💎 🏆  BEST REGTECH SOLUTION ID-Pal 🏆 On March 13, Merchant Payments Ecosystem recognized & celebrated the best of the best at #mpeAwards 2024. Let's celebrate the winners and their most significant moments from mpe awards ceremony! 🔍 #Category: BEST REGTECH SOLUTION According to the criteria, in the "best regtech solution" category, the award goes to a technology provider helping merchants, issuers, or acquirers to streamline their regulatory compliance operations, covering either (or both) regulations and industry standards. This may include regulatory reporting, risk management, identity management & control, compliance and transaction monitoring, fraud, security, etc. “This company revolutionises identity verification, merging advanced biometric, document, and database checks with seamless AML and KYC compliance. Customers' journeys are pre-built, and its platform is designed to accelerate digital transformation by simplifying integration, reducing costs, and enhancing decision-making. Their no-code, customisable approach ensures a smooth onboarding experience, prioritising user convenience and security. With robust data encryption, They guarantee the utmost protection of sensitive information, establishing a trusted user environment. They exemplify innovation and efficiency, making it a worthy RegTech winner for the digital age.” ⚡ This category is powered by Mangopay⚡ Neira Jones Alex Rolfe Colum Lyons #mpeawards #ilovempe #mpe2024 #mpecosystem #mpeberlin

Unlocking your identity: KYC with ProfileX - where mobile intelligence and biometric data make it all about the customers. 📲 #NeoKred #NeoKredTech #ReadySetFintech #AllInOne #Fintech #ProfileX #KYC #Finance #PaymentSolutions #FinancialSecurity