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Compliance

What criteria to look for when you look for a PVID provider?

Fraudsters favor identity theft. Its financial damage can quickly escalate: 14% of the attacked companies have suffered a loss of over 100 000 euros.
To counter this threat, the authorities offered to set a framework that would ensure remote identification. The ANSSI (national safety and security agency) defined this framework in 2021: it’s the Remote Identity Verification Providers (PVID) standard.

As part of its requirements for entering into a remote relationship, the ACPR (Autorité de contrôle prudentiel et de résolution) suggested financial and banking institutions should use this standard.

All service providers that wish to comply with the 1st and 5th measures of the Financial Markets Code (FMC) in France for remote onboarding are concerned by this standard: they must meet the same requirements and offer the same process. So how do you choose among all the PVID providers?

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Pvid Certification Customers Enrollment2
Compliance

What will PVID Certification Change for Customers Enrollment

Identity Fraud hits the banking and financial sector first. To help banking and financial institutions fight back, the french ACPR (Autorité de contrôle prudentiel et de résolution) offered to use PVID certified solutions (Remote Identity Verification Providers). The ANSSI (Agence nationale de la sécurité des systèmes d’information) established in March 2021 this new standard’s requirements. Specifically, let’s see what this certification will change for the customer enrollment.

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aml-cfft
Compliance

State of the art of AML/CFT in Europe, what are the available KYC solutions?

The fight against fraud, money laundering and counter-terrorist financing remains a long-standing European commitment. For the past 30 years, the AML-CFT European Directives followed one another to provide an accurate regulatory framework to fraud-prone companies, all the while reinforcing the identification procedures for online customers. Knowing the European “Digital Identity wallet” is fast approaching, and in the context of constant digitization, let’s take a good look at the current European regulatory landscape and draw up an overview of existing solutions to meet KYC requirements, while waiting for a european hoped-for harmonization.

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Vérification d'identité
Compliance

Should you be wary of remote ID verification solutions?

Even if we’re not aware of it, we go through ID verification almost every day. When we log into a mobile app, open a bank account, subscribe to an insurance policy or rent a car, we have to prove that we are the person who wants to use a given service.

Whereas in the past, face-to-face identification or email and password were sufficient. But with the digitization of services and the increase in cybercrime, there is a growing need for secure solutions, especially for sensitive services.

More and more companies are now using remote ID verification services with a dual goal: fighting fraud and building customer trust. The global identity verification market post COVID-19 is expected to grow from $7.6 billion in 2020 to $15.8 billion by 2025, according to a Markets and Markets research.

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