The challenge for marketplaces operators is to create a credible community by dealing with the uncertainty. Where does it come from? Buyers cannot be 100% sure that the seller will deliver the product. Sellers cannot be confident that the buyer is using their real identity. Trust is everything here. Identity verification service can support you
UPDATE January 2023 How proper KYC process can boost conversion rates? Protecting your company from fraud is essential, but if you’re afraid that Know Your Customer (KYC) regulations will negatively impact your conversion rates or suffocate your business, you don’t have to worry anymore. Establishing your KYC processes correctly can positively impact your business. It
Art has been a part of human history for thousands of years. From the first cave paintings to NFTs, as technology advances, so does the art and art market. Social media and online galleries have become a fantastic solution for artists to promote and sell their works. The online art world has become a place
Metaverse has recently become a term that’s not only known for those who eagerly follow tech-related news but also for regular, everyday internet users. One of the reasons for the increase of its popularity was the recent announcement of the rebranding of the social media giant, Facebook Inc, and the change of its name to
Know Your Customer (KYC) verification – a part of the Customer Due Diligence (CDD) process – has become the gold standard in regulatory compliance. It’s not just the financial industry that requires this process. With potential fines and reputational loss at stake, businesses everywhere must be actively working on verifying their customers properly. Due diligence will
KYC compliance KYC (Know Your Customer) compliance service is a process through which businesses verify the identity of their customers and assess the potential risks involved in doing business with them. This is typically done to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations, as well as to prevent fraud and other financial
The high-profile scandal that shook the financial world continues. Credit Suisse, a financial firm in Switzerland, was accused, based on an international investigation by the German newspaper Süddeutsche Zeitung and Organized Crime and Corruption Reporting Project, of failing to apply due diligence procedures to its clients, amongst who were corrupt politicians, drug dealers, and criminals.
In times of global digitization, identity verification is essential. A Video KYC service can be one of the main parts of customer onboarding. By using a service like that, institutions that require verification of customer can maintain higher security, and their customers are guided through the entire process thus committing fewer errors that can occur during
The global outbreak of the COVID-19 in the beginning of 2020, has caused a major disruption in the way the world works. The way customers join, operate and use platforms and services has undergone a massive transformation due to numerous lockdowns, which resulted in a growing number of online users and customers worldwide. Handling finances
Growing strictness of compliance regulations means that companies must improve their customer onboarding processes. That’s why, when running a company related to finance, it is worth having a documented CDD procedure in place. Customer Due Diligence allows checking what kind of customer we can deal with and allows you to control their activity within our
Fully-Verified was created as answer to its founders collectively losing over $150 000 to various types of fraud in their eCommerce businesses.