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?
At times when mobility has become multimodal, customers are increasingly fickle in their choice of transportation.
Whether they want to rent a car, use an electric scooter or take public transport, they look for quick and easy onboarding.
Hence the need for mobility actors to offer adapted solutions.
How to offer a digital experience that is both efficient and unique?
Creating value out of a regulatory requirement: that’s where the potential of KYC process lies (Know your customer).
Checking client ID online during digital transactions becomes the new normal and is now spreading to many unregulated sectors such as HR or mobility (car, scooter rentals…).
At the same time, digitization of uses and services is reaching such a level that what was once considered a hurdle can now contribute to optimizing customer experience.
Let’s see how.
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.
The use of electronic signatures burst in the past years, emphasized by new technologies and the pandemic. And in a digital world where identity theft considerably impacts remote transactions, the stakes of Know Your Customer (KYC) within the electronic signature are even more important.
Indeed, the KYC process brings a legal value and a regulatory compliance to the deliverability of the electronic signature of a document. Its use has considerably increased in various sectors such as real estate, banking, insurance, or public services.
In an ever digitalized world with intensive use of new technologies, security of transactions between companies and clients has become fundamental.
That’s the context in which the KYC (know your customer) process was implemented. Its goal is to check the identity of a client and to ensure that he/she is who he/she claims to be. A KYC process answers regulations in force of which the main objective is to fight identity theft, money laundering and terrorism financing.
It applies to all sectors but is particularly adequate for banking, finance institutions and insurance…
With the explosion of digital and online sales of goods and services, the way companies enter into a relationship with their customers has changed considerably.
The online gambling market has been severely affected by the health crisis Like many other industries, the online gaming industry has not been exempted
Now we can hear about this concept everywhere – the KYC (Know Your Customer) process is implemented in various industries. A real asset for fighting
The rise of digital technologies in recent years has led to the emergence of new uses, mainly on mobile phones. Today’s users have increasingly high
You would like to integrate an identity verification solution into your applications, but you do not know how to proceed?
You have found the right article!
Our consumption patterns have changed. In one click, we order, we subscribe, we read, we create… This new economic environment is an opportunity for companies
ith the health crisis we have been faced with came a surge in the recourse by patients and health professionals to telemedicine services. Whilst it