When onboarding new customers, the process can often be tedious and repetitive. For businesses that are regularly onboarding new customers, it is crucial to reduce abandonment and instil trust by providing a smooth, frictionless onboarding experience to KYC (Know Your … Read More
Remote Customer Onboarding
The impact of remote KYC onboarding on customer experience
Remote KYC onboarding is the process of gathering information required as part of a KYC check remotely via digital platforms and online channels. … Read More
KYC delays slowing customer onboarding; new research find 1 in 5 checks take more than 24 hours
A recent survey undertaken by NorthRow, the leading Know Your Customer/Business (KYC/B) and Identity & Verification (ID&V) platform, has revealed that one in five Know Your Customer onboarding checks takes over 24 hours to complete. The survey invited compliance professionals … Read More
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
What is the UK Digital Identity and Attributes Trust Framework from the DCMS, for digital identity certification?
The UK Digital Identity and Attributes Trust Framework, from DCMS (Department for Culture, Media and Sport) is a set of rules for digital identities, announced and developed since 2021. It provides a framework that organisations must follow to conduct secure, trustworthy identity and/or attribute checks when onboarding staff.
The framework was developed by the DCMS, in conjunction with the Home Office, alongside a Home Office review of the availability and ability of specialist technology to support digital Right to Work checks in the UK. … Read More
KYC onboarding in a hybrid world
Keeping up with the volume of regulatory change has been a major challenge for financial businesses over the last few years. A situation that has been accelerated by the Covid-19 pandemic and the greater adoption of digital, remote and hybrid … Read More
How to Replace Manual Client Onboarding with Automated KYC/KYB
There has been rapid digital growth over the last two years, accelerated by the global pandemic. Consumers’ expectations are now higher than ever, and their patience is reducing – they expect to sign-up or be onboarded instantaneously. They also value … Read More
What Due Diligence Checks are Mandatory in the UK?
If a business is covered by Money Laundering Regulations, it has a responsibility to meet certain day-to-day criteria. These include Customer Due Diligence (CDD) measures to ensure that customers are who they say they are. The business must evidence that … Read More
Why Should you Automate Identity and Verification for Customer Onboarding?
ID verification is a non-negotiable element when onboarding new customers. It’s an essential part of the Know Your Business (KYB), Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. When done well, it supports the business in creating long-term customer … Read More
New! Insights from NorthRow
Knowing Your Customer is no longer sufficient. You need to be able to understand your customer in order to safeguard the business from risk exposure. … Read More