AML and KYC

ABN AMRO Selects Fenergo for Bank-Wide Client Lifecycle Management

Fenergo has today announced that ABN AMRO has selected its award-winning Client Lifecycle Management software platform to support its CDD / KYC target operating model and business transformation strategy. The third largest bank in the Netherlands will roll-out the Fenergo Client Lifecycle Management platform across its Commercial, Corporate & Investment, Retail and Private Banking business lines. Read more »

EBRD Joins SWIFT’s Know Your Customer Registry

In a move to facilitate global and local financial flows and ensure their transparency, the European Bank for Reconstruction and Development has signed up to use SWIFT’s Know Your Customer (KYC) Registry and is encouraging partner banks in countries where it invests to follow suit.   Read more »

Russia’s Sovcombank implements psychometric scoring from FICO and EFL to increase credit portfolio

Russia’s Sovcombank is using a new form of credit scoring to attract young people looking for their first credit card. The score, developed by Entrepreneurial Finance Lab (EFL) and marketed by Silicon Valley analytics firm FICO, uses an interactive online assessment to evaluate an individual’s credit risk. Sovcombank, a universal bank with more than 2 million customers, is using the score to “gamify” the credit application process. Read more »

ACI Worldwide Collaborates With Payment21 to Enable PSPs AML Compliance For Bitcoin Transactions

Payment21® and ACI Worldwide today announced a strategic collaboration enabling payment service providers (PSPs) to offer merchants anti-money laundering (AML)-compliant Bitcoin acceptance via ACI’s UP eCommerce Payments solution. ACI’s network of more than 130 PSPs, serving more than 56,000 merchants, can now accept Bitcoin payments as a result. Read more »

Opus Releases Enhanced Due Diligence Tool with KYC Solution

Compliance and Risk Management SaaS technology leader Opus announced today the release of powerful new Enhanced Due Diligence (EDD) features for Alacra Compliance Enterprise (ACE), its flagship Know Your Customer (KYC) solution. Banks rely on Opus to optimize customer identification, due diligence and investigation processes and to provide streamlined, integrated compliance risk and screening intelligence in a single user interface. Read more »

Onfido Represents Regtech Principles for Innovation

Onfido, the identity verification provider, has launched the Regtech Principles for Innovation to encourage greater collaboration between regulators and financial services. Aimed at building an inclusive financial ecosystem that protects consumers and businesses alike, the Principles encourage the use of new technologies to empower digital innovation. Read more »

Pegasystems announces Industry’s First Robotic Automation Capabilities for Pega CLM and Pega KYC applications

Pegasystems Inc. (NASDAQ: PEGA), the software company empowering customer engagement at the world’s leading enterprises, today announced that Pega® Client Lifecycle Management (CLM) and Pega® Know Your Customer (KYC) now enable banks to leverage the power of robotic automation to speed client onboarding processes, reduce operational costs, and accelerate time to market. Read more »

EC Wise Joins FICO’s Enterprise Security Score partner program

Cybersecurity solution provider and systems integrator EC Wise and Silicon Valley analytic software firm FICO announced today that EC Wise has joined FICO’s Enterprise Security Score partner program. Read more »

NICE Actimize Reveals Anti-Money Laundering Webinar Series

NICE Actimize, a NICE (Nasdaq:NICE) business and the largest and broadest provider of a single financial crime, risk and compliance software platform for the financial services industry, is launching its latest anti-money laundering webinar series on February 22 that will address recommended risk-based safeguards for transaction monitoring programs that provide operational efficiency, cost savings, and agility. Read more »

Encompass launches a fully automated Anti-Money Laundering system for banks

A fully automated Know Your Customer (KYC) solution for achieving superior Anti-Money Laundering (AML) and Counter Terrorism Finance (CTF) compliance has been launched by Encompass Corporation. The software platform enables banks to meet the increasingly demanding regulatory requirements of The European Union’s Fourth Anti-Money Laundering Directive, which comes into force on the 26 June 2017. Read more »

CEB TowerGroup recognises FICO as a leading provider in KYC systems

A 2016 report from CEB TowerGroup analysts recognises FICO as a leading provider in “Know Your Customer” systems, with FICO®TONBELLER® Siron® Anti-Financial Crime Solutions. CEB TowerGroup analysts’ 2016 “Do You Know Who I Am? Know Your Customer Systems Market Update” shows that FICO TONBELLER Siron system provides all 18 capabilities studied as standard features. Read more »

Financial Fraud: Greatest Hits of 2016

2016 had a financial fraud being committed once every 15 seconds, compelling financial institutions to buckle up. The trend will continue through 2017 with newer, more innovative attempts. Imperative therefore to think innovatively to stay ahead of the game. Read more »

EverCompliant Raises $9.5 Million Series A to Continue Preventing Transaction Laundering

EverCompliant, the cyber intelligence company, pioneer and industry leader of transaction laundering detection and prevention, announced today the completion of a $9.5 million Series A funding round. The round was led by Arbor Ventures and included existing investors Carmel Ventures, StarFarm Ventures and Nyca Partners. With this investment, Melissa Guzy of Arbor Ventures has joined the Board of Directors of EverCompliant. Read more »

FICO named CSO50 Award winner for its application security program

Silicon Valley analytics software firm FICO today announced that it has been named a winner in the 2017 CSO50 Awards from IDG's CSO. The company was recognised for its next-generation application security program, which accelerates the delivery of robust, secure applications.  Read more »

Accuity Survey Reveals Law Firms Still Facing Significant AML Challenges

Accuity, the leading global provider of risk and compliance solutions, has today published the first survey of its kind exploring the legal profession’s understanding and use of Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance controls to help meet new regulation. The results reveal that some of the main challenges include: identifying Ultimate Beneficial Ownership (UBO), establishing clients’ source of wealth and asking fee... more Read more »

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