Know Your Customer (KYC) guidelines and regulations in financial services require professionals to verify the identity, suitability, and risks involved with maintaining a business relationship with a customer. The procedures fit within the broader scope of anti-money laundering (AML) and counter terrorism financing (CTF) regulations.
An identity score is a system for detecting identity theft. Identity scores are increasingly being adopted as a means to prevent fraud in business and as a tool to verify and correct public records.
Anti-money laundering (AML) software is software used in the finance and legal industries to help companies comply with the legal requirements for financial institutions and other regulated entities to prevent or report money laundering activities. AML software can facilitate faster and more accurate compliance and investigations.
Credit card fraud is an inclusive term for fraud committed using a payment card, such as a credit card or debit card. The purpose may be to obtain goods or services or to make payment to another account, which is controlled by a criminal. The Payment Card Industry Data Security Standard is the data security standard created to help financial institutions process card payments securely and reduce card fraud.
Entrust Corp., formerly Entrust Datacard, provides software and hardware used to issue financial cards, e-passport production, user authentication for those looking to access secure networks or conduct financial transactions, trust certificated for websites, mobile credentials, and connected devices. The privately-held company is based in Shakopee, Minnesota and employs more than 2,500 people globally.
Daon is an international biometrics and identity assurance software company founded in 1999 by Irish entrepreneur Dermot Desmond. The name, Daon, was chosen because it stems from the Celtic word for human being, duine daonna. Daon is headquartered just miles outside of Washington, DC in Fairfax, VA. Daon also has major operations in Dublin, located in the International Financial Services Center (IFSC). It has an additional offices in Belgrade, Serbia and Canberra, Australia.
An identity verification service is used by businesses to ensure that users or customers provide information that is associated with the identity of a real person. The service may verify the authenticity of physical identity documents such as a driver's license, passport, or a nationally issued identity document through documentary verification. Additionally, also involve the verification of identity information (fields) against independent and authoritative sources, such as a credit bureau or proprietary government data.
Infibeam Avenues Limited is an Indian payment infrastructure and software as a service (SaaS) fintech company that provides digital payment services, eCommerce platforms, digital lending, data cloud storage and omnichannel enterprise software to businesses across industries in India and globally.
Stripe, Inc. is an American multinational financial services and software as a service (SaaS) company dual-headquartered in South San Francisco, California, United States and Dublin, Ireland. The company primarily offers payment-processing software and application programming interfaces for e-commerce websites and mobile applications.
Netwrix is a Frisco, Texas-based private IT security software company that develops software to help companies identify and secure sensitive data and assist with compliance auditing. After eight acquisitions the company's team geographically expanded to Latin America, UK, Germany, France, Asia, USA as well as other countries. The company's flagship products are Netwrix Auditor and StealthAUDIT that help information security and governance professionals manage sensitive, regulated and business-critical data.
Trulioo is a Canadian-based company that provides electronic identity and address verification of both individuals and businesses. Trulioo customers use the service to verify the identity of their own customers as part of 'Know Your Customer' verification. It began as a service to Facebook in 2012, and as of 2014 includes verification for Google and LinkedIn.
Onfido is a technology company that helps businesses verify people's identities using a photo-based identity document, a selfie and artificial intelligence algorithms.
Plaid is a financial services company based in San Francisco, California. The company builds a data transfer network that powers fintech and digital finance products.
nCino, Inc. is a financial technology company headquartered in Wilmington, North Carolina. The company's cloud-based banking software helps financial institutions to gain efficiencies from digitizing and streamlining processes in commercial banking, small business banking, and retail banking. Pierre Naudé has served as CEO of nCino since its inception. The company's Bank Operating System is used by banks and credit unions with assets ranging from $30 million to $2 trillion. As of 2022, nCino is used in more than 1,750 financial institutions. nCino's customers include TD Bank, Truist Financial, and Santander Bank. nCino's strategic partners include Accenture, Deloitte Digital, PwC and West Monroe Partners.
Veriff is a global identity verification service company founded and headquartered in Tallinn, Estonia. The company offers services for online businesses to mitigate fraud attempts and assisting regulatory compliance. Offering protection from identity fraud and identity theft, Veriff verifies a customer's identity automatically, using an AI that analyzes a multitude of technological and behavioural indicators, including facial recognition. The service is provided to companies as an API, which has been compared to Stripe.
ComplyAdvantage, founded in 2014, is a RegTech company that provides software to help detect and manage risks associated with AML and Fraud. The company uses artificial intelligence, machine learning and natural language processing to help regulated organisations manage risk obligations and counteract financial crime.
Maya, is a Filipino financial services and digital payments company based in Metro Manila, Philippines.
bunq B.V. is a Dutch fintech and neobank licensed in the Netherlands within the European Union and operating in 30 European countries. It was founded in Amsterdam where its headquarters are currently located.
Frank S. Jorga is a German businessman and investor. He pioneered the online video identification system. He is the founder and managing director of WebID Solutions.
IDfy is an Indian identity verification company headquartered in Mumbai, India. It was founded in 2011 and is operated by Baldor Technologies. The company's operations are spread across Mumbai, Pune, Delhi, and Bangalore.
