API for identity and compliance: an acronym financial services actually love
Failure to accurately verify customer and business identities online has been a sharp thorn.
Failure to accurately verify customer and business identities online has been a sharp thorn.
Nifty infographic based on the IBM Security Future of Identity Study.
“Our social and business communications are edited by tech,” Vladan Joler, director of Share Foundation, stated at the Sibos Innotribe panel, How does Facebook know you better than you know yourself?.
Establishing if someone is who they say they are in today’s virtual world is a major headache for banks and fintechs, thanks to the strict regulations they operate under and the difficulty in providing non-physical, verifiable forms of identity.
Lloyds Banking Group is to allow customers to upload images of identification documents required as part on an online account opening application, removing the need to visit a branch.
Initially the new electronic identification and verification checks, which will start to be rolled out to customers from next week, will be available to customers who want to add an additional party to an existing account.
The themes of security, identity and mobility ran strongly through the Cards and Payments Middle East conference in Dubai this week – and not just because the event itself is sandwiched between related and interlinked events focusing on Mobile and Identity.