ACUANT BLOG

The Importance of Know Your Business (KYB) & Ultimate Beneficial Ownership (UBO)

B2C companies must perform a series of verification operations to verify the identities of their individual customers known as Know Your Customer (KYC). Similarly, companies with B2B clientele must do the same process for businesses; in AML taxonomy this is...

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Why Digital Wallets are the Next Big Thing in Payments

The COVID-19 pandemic accelerated the need for digital wallets and forced companies to swiftly adjust and improve their platforms. Many industry experts report that digital wallets will overtake credit cards as the preferred method of payment by 2023. The focus...

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What is Customer Due Diligence?

The term ‘due diligence’ refers to the measure or exercise of care enacted by a prudent, rational individual or entity under given circumstances. Just as rational individuals evaluate big decisions before they make them, businesses operating in the regulated sector...

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The Challenge of Establishing Trust in Open Banking

Acuant’s Chief Product Officer Jose Caldera spoke to PaymentsJournal about the importance of establishing trust in open banking without compromising customer experience or privacy. Read the original article and listen to the podcast interview here. In today’s world, digital banking...

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Reducing Due Diligence from Weeks to Minutes

The regulated sector is diverse and institutions must keep pace with developing rules and regulations in order to remain compliant. As such, creating a smooth onboarding process which is both robust and efficient is no mean feat. The challenge for...

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Know Your Guest: The Importance of Travel Risk Management & ISO 31030

The travel and tourism industry has long been one of the largest industries in the world. According to the UNWTO*, in 2019, Europe alone saw 744 million international tourists. Though it came to an almost standstill as a result of...

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What’s Next for AML?

The global AML landscape is diverse and financial institutions must keep pace with rules and regulations in order to remain compliant. But regulations are constantly evolving and businesses must also be prepared to move swiftly, adopt new standards, and protect themselves...

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Fighting First-Party Fraud by Monitoring Customer Risk

First-party fraud is when individuals—for their own purposes or on behalf of others—using a real or synthetic identity enter an exchange of some sort for goods or services without intending to follow through on the future payment(s). This can include...

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Why No Code Tech Is A Game-Changer For Identity Proofing In The Era Of Digital Transformation

Glenn Larson is the Vice President of Engineering at Acuant and a member of the Forbes Technology Council, an invitation-only community for world-class CIOs, CTOs and technology executives. Read his article for the Forbes Technology Council below, or find the original...

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How to Protect Your Business and Comply with AML Regulations in LATAM

Money laundering is a significant issue faced by banks and other financial institutions, particularly in the Latin American regions. To counteract this fraudulent behavior, governments are being more proactive in their countermeasures against money laundering and exploitative practices, by introducing...

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Solving KYC Challenges for FinTech Startups

Knowing your ideal customer is one of the most fundamental aspects of starting any business, but for those in the financial sector, it’s a regulatory requirement. (more…)

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The Impact of 6AMLD on Virtual Currencies

In recent years, consumer demands and technological innovations have instigated a radical transformation of the payments space. The rise of FinTech in particular has been a significant mobilizer of change, driving faster, cross-border payments. Among the latest developments, is an...

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