News

Read all our latest articles on industry buzz, events, technology, and our team.

AML checks for the insurance industry

Automating AML and KYC compliance checks in the insurance industry would help drive operational efficiency and better customer experiences - challenges the industry needs to address according to a report issued by Deloitte earlier this year.

Read on

Four core requirements of customer due diligence

Customer due diligence (CDD) is the process by which banks and other financial institutions (FIs) identify and verify individuals before they become customers, and how they then assess risk throughout a customer’s lifecycle.

Read on

OneBanx selects KYB solution from PassFort

OneBanx selects Know Your Business (KYB) solution from PassFort, a Moody’s Analytics company, to enhance customer onboarding and compliance processes

Read on

Managing risk in an age of digital identity

In 2021, the UK government published its prototype of the UK digital Identity And Attributes Trust Framework, a result of consultation with more than 250 organizations. But how will it help UK businesses manage and control risk?

Read on

What is customer due diligence?

Customer due diligence (CDD) is the process of verifying a customer's identity, assessing the risk of doing business with them, and then monitoring that risk level throughout their lifecycle. The goals of CDD are to prevent identity theft, money laundering, and other financial crimes.

Read on

Managing compliance challenges with perpetual KYC

How can regulated companies use perpetual KYC (pKYC) to solve their compliance challenges and manage risk throughout a customer’s lifecycle?

Read on

Money laundering, anti-money laundering, and five facts you may not know

AML stands for anti-money laundering. There are AML regulations the world over, each designed to create transparency around who is making financial transactions, to stop financial crime not good customers.

Read on

Does blockchain have a role in compliance?

“Exciting technology” and “Regulatory compliance” don’t initially sound like they gel. Certainly cryptocurrency and regulation haven’t always gone hand-in-hand. But blockchain, the exciting technology that underpins cryptocurrencies, does have a place in compliance, logging data in secure, verifiable databases.

Read on

What is regtech?

Regulatory technology, or regtech, has emerged as a critical component in the fight against money laundering and fraud associated with the financial services industry. It helps automate compliance processes, while creating better customer experiences.

Read on

PassFort's Q2 newsletter 2022

Russia’s invasion of Ukraine has dominated the second quarter of 2022. And we have been developing resources for teams managing the fast-changing area of sanctions compliance that has evolved since the invasion began in February.

Read on

Automating identity verification for customer onboarding

Automatically verifying someone's ID is the first building block in a digital customer onboarding process. It's a key part of KYC and AML due diligence. So, what do you need in the process and what should you look for in an automation tool?

Read on

KYC compliance for kids

The market for financial products that teach kids about budgeting, saving and spending has opened up massively. So, how does KYC for these types of digital financial services work? Let's take a look...

Read on