Identity verification

Digital IDs: The next financial services frontier?

08/28/19

The idea of a common digital identity for consumers has become more compelling amid the digitalization of the world's economy. Many bank and credit union executives consider it a natural fit, one the industry should be prepared to lead on.

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Safeguard data on kids, reap customer retention rewards

08/05/19

Banks have to do a better job of protecting personal information about their customers' children.

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PayPal-backed blockchain aims to help banks verify digital IDs

07/16/19

A new project backed by the government of Luxembourg could ultimately be influential in the U.S., where banks have been slow to develop a shared platform for digital identities.

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Is facial recognition safe for financial institutions to use?

07/02/19

The technology has become controversial for its potential for bias. Notre Dame professor Kevin Bowyer explains what his studies of this issue have found.

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Fully automated compliance is big hurdle for this fintech's APIs

06/14/19

Synapse is working to refine its application programming interfaces to meet know-your-customer and other complex requirements, but it's a tall order, the head of the back-office-services platform says.

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Spring Labs raises $23M, plans to expand customer ID blockchain

06/12/19

The Los Angeles company has established a network that is designed to help verify the identities of consumer and small-business borrowers. It says 20 lenders are participating and that it is trying to recruit more.

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Should San Francisco's ban on face-recognition tech worry banks?

05/16/19

Police and city agencies can no longer use facial-recognition technology, which civil liberties groups say infringes on human rights. The measure may be an ominous sign for biometric login authentication.

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Blockchain adopted by Canadian banks to verify client identities

05/01/19

Canada is making a big leap in modernizing identity verification, tapping blockchain technology to let consumers digitally prove who they are to securely access banking and other personal services.

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Will telecoms' tighter data sharing cripple banks' fraud detection efforts?

04/29/19

Many banks rely on the location data they get from carriers through data aggregators to spot fraudulent transactions. With telecom companies shutting that source down, banks are worried it could significantly hurt their capacity to detect fraud.

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Tech firms Jumio, ComplyAdvantage team up to help banks ID crooks

03/22/19

Alongside identity-document scanning and other ID verification, the two companies are offering real-time checks of lists of suspicious persons. The goal: keep money launderers out of the banking system.

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