eKYC stands for electronic Know Your Customer and refers to the digital process of remote, paperless process that minimises the costs and traditional bureaucracy necessary in KYC checks. eKYC uses digital identification processes with the aid of technology such as … Read More
Author Archives: Lauren Davison
NorthRow named as certified IDSP under new DCMS framework
NorthRow is pleased to announce it has received certification under the Department for Culture, Media and Sport (DCMS) UK Digital Identity and Attributes Trust Framework. The business is now approved as an IDSP (Identity Service Provider) for right to work checks. … Read More
5 reasons to invest in compliance software
Regulatory compliance is a business’s adherence to regulations, laws, guidelines and specifications relevant to its day to day business activities and processes. Failing to comply with these requirements can result in legal fines, loss of reputation, down time and loss of productivity, as well as imprisonment in some cases. … Read More
Why is the KYC process important?
KYC (Know Your Customer) processes are the fundamental building blocks of any regulated entity’s AML (Anti-Money Laundering) process. Being confident that you know who you are doing business with, from day one of the relationship, is the first step to … Read More
What is the difference between a Beneficial Owner and an Ultimate Beneficial Owner of a company?
What is a Beneficial Owner of a company? Beneficial ownership is distinguished from legal ownership, though in most cases, the legal and beneficial owners are one and the same. Legally, an ownership can be classified into two; (1) legal and … Read More
What is a PEP?
A Politically Exposed Person (PEP) is someone who is more susceptible to being involved in bribery and corruption due to their public position or function. These individuals may have been entrusted with a high-position by a community institution, an international … Read More
This Month in Compliance: July 2022
Each month, we take a look at the latest compliance news and insights to keep you on top of what you need to know from across the industry. In July, momentum continued to gather behind the ‘metaverse’. At Money 20/20 … Read More
What is KYC remediation?
Know Your Customer (KYC) is the process of verifying your customer’s identity, usually using compliance solutions and screening software. The goal is to identify the clients that are most at risk of financial crime. Verifying the identity of someone you … Read More
Countdown to Money20/20 Europe: Our Top Picks
There is less than a week to go until Fintech’s biggest conversation, Money20/20 Europe in Amsterdam. A chance for businesses and like minded individuals to explore innovative ideas and strategies surrounding the money ecosystem, connecting with the industry’s greatest minds … Read More
The Kalifa Review
Our CEO Adam Holden on why he chose to help progress the implementation of the Kalifa Review: “I supported the Kalifa Review because I fundamentally believe in the key recommendations that it announced. In particular, I believe that the focus on … Read More