Compliance procedures surrounding Know Your Customer (KYC) rules are putting financial firms under an increasing amount of pressure. According to a recent study, the average spend on KYC-related practices for large financial institutions increased to $150m USD last year, up from $142m USD the preceding year. Learn More.
NorthRow (a Contego solutions business), the RegTech and compliance specialist, has been chosen by the UK’s Open Banking Implementation Entity (the ‘OBIE’), to verify its users in the European Union and the rest of the world. The move follows the successful implementation of verification processes for UK users, streamlining services for customers. The new partnership will see NorthRow verify users throughout the EU and the fast-emerging markets in Asia Pacific, including: India, the Philippines and Australia/New Zealand. Read the latest press release to learn more..