Meeting regulatory obligations and protecting against fraud
As fraud and financial crime increase, it’s crucial to balance revenue growth with fraud prevention and regulatory compliance, rather than prioritising one over the other.
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While the primary aim of fraud prevention measures is to stop fraud and reduce losses, effective procedures also improve the confidence of good customers.
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By focusing on fraud prevention and regulatory compliance, you can reduce losses and build trust with good customers. So how do you achieve both? It starts with moving away from a one-size-fits-all approach. Instead, you need to employ the right type of protection at each stage of the customer journey.
Regulation
Conforming to ever-changing Anti-Money Laundering (AML) and Know Your Customer (KYC) guidelines isn’t always easy. That’s especially true when the demands of technology increase and departmental funds don’t. With the right help, however, you can provide due diligence and risk quantification without breaking your budget.
Find out more about regulatory complianceDetect and prevent fraud
Old-fashioned password systems are no match for fraudsters intent on account takeover. And credit applications need to be thoroughly vetted using top-class validation and verification procedures to ensure that the ID being used isn’t stolen or fake. But how can you incorporate fool-proof identity checks into your digital channels without slowing down legitimate customers? It’s time to get onboard with biometric verification.
Find out more about detecting and preventing fraud
Identity checks and verification
Modern ID verification systems do more than protect you from the cost of fraud and a damaged reputation, they can also boost customer confidence in your security measures and improve their experience across all your channels. Passive, invisible checks help keep fraudsters at bay, while genuine customers enjoy a seamless, joined-up experience.
Find out more about identity checks and verificationBackground checks
In business, you need to make sure you always have all the facts. Background checks let you dig into the past to find out more about a person or an asset, such as a vehicle. You can find out how much they’re worth and whether the information you’ve been given is true and complete. Whether you want to check up on a potential employee, settle an insurance claim or extend a line of credit, background checks make sure you’re both forewarned and forearmed.
Find out more about background checks
Data breaches
Working from home has become the new normal for many of us, but have you considered the data breach implications created by a remote workforce? Find out how you can improve your security and data management before a breach happens and the best way to respond if it does. You owe it to your customers as well as your business.
Find out more about data breachesFighting financial crime
FinCrime continues to cost the UK economy and financial institutions billions of pounds every year. Furthermore, the impact on the wider society is incomprehensible with money laundered through the UK the result of some of the most despicable crimes committed against those most vulnerable. Change is needed and we must try to do more to detect and prevent financial crime.
Our approach blends the latest technology, data, and insight to deliver slick, automated financial crime prevention and remediation. It only requires manual intervention when the data calls for it, hugely reducing the time, cost, and effort involved.
Find out more about fighting financial crime
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