Know your customer (KYC) stories

SEON expands its Asia-Pacific team in response to growing demand for advanced fraud prevention and anti-money laundering solutions across the region.

NTT DATA launches Smart AI Agent Ecosystem to boost business transformation with intelligent automation and industry-specific AI solutions worldwide.

A global survey reveals enterprises plan to boost investment in trust, safety and security for customer experience amid rising compliance and fraud challenges.

Australian businesses lead globally in boosting investment in digital trust, focusing on fraud detection and identity verification to protect customers.

85% of organisations eye digital-first banking as traditional banks' slow KYC processes cause financial losses, says new Encompass Corporation survey.

ABBYY unveils Document AI API, a developer-friendly tool to convert unstructured business documents into accurate data, boosting automation in workflows.

Fivecast has launched a groundbreaking AI-driven platform to bolster financial crime investigations, aiding institutions in meeting stringent AML compliance demands.

Kore.ai has unveiled AI for Process, a no-code platform designed to revolutionise enterprise workflow automation and optimise decision-making.

Adyen has teamed up with Eats365 to launch a streamlined payment solution for food and beverage businesses globally, enhancing operational efficiency.

In an era where speed and efficiency are paramount, banks must decide between building custom KYC systems or investing in advanced SaaS solutions to enhance client onboarding.

Encompass has unveiled its EC360 platform to revolutionise corporate client verification in banking, addressing outdated processes amid rising competition.

Ondo Finance has unveiled tokenised U.S. Treasuries on the XRP Ledger, boosting institutional access to short-term securities via Ripple USD.

Credas Technologies in Cardiff has seen a remarkable 40% surge in its customer base, surpassing financial targets by 60% as it prepares for international growth.

Appdome has launched Threat Dynamics, an AI-enhanced mobile defence platform aimed at pre-emptive threat management for mobile businesses facing rising fraud.

Microblink has reported robust growth in 2024, buoyed by rising demand for its identity verification solutions and expanded integration on Google Cloud.

A study by Juniper Research forecasts that global non-financial businesses will spend USD $22 billion on KYC/KYB systems by 2029, marking a 140% increase.

Identity fraud in Europe has surged by 150% year-on-year, with deepfake use escalating sharply and businesses reporting widespread challenges.

Veriam has unveiled a groundbreaking platform that seamlessly integrates identity management, access control, and subscription services to simplify business operations.

A study by Synectics reveals that 75% of money mules remain undetected without continuous KYC and AML screening, presenting a major threat to banks.

AvePoint has unveiled an AI Lab in Singapore, partnering with the EDB to spearhead AI research and develop solutions for global industry challenges.