A computer screen displaying the word cybersecurity

Cybersecurity – A Big Deal for Fintech

We do a lot of things online. We shop at online marketplaces. We rent movies at online video libraries. We manage our finances in online banking apps – all from the comfort of our homes. On the downside, criminals don’t have to stand up from their couch either, to rob your bank or steal your private data. Internet crime and assaults on cybersecurity occur in increasing numbers. Banking institutions are a popular target, as are their little, nonconformist peers: Fintech companies.

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A stylized picture of a magnifying glass looking at ID documents for KYC purposes.

Keep Your Compliance: The Fintech’s Guide to KYC

Knowing Your Customer – It’s the key success factor for any business. 

But not only sales managers and marketing agents need a good idea about who sits on the other side of the online shopping cart or B2B contact form.

KYC, meaning Know Your Customer, is as much a regulatory requirement for fintech companies and financial institutions. After all, laws oblige them to verify the identities of their clients. The goal: Prevent fraud and constrain the service access of users, who don’t fulfill certain standards of credibility.

But Know Your Customer policies are not just boundaries. They also act as competitive factors. KYC yields insightful data on one’s own services and customers.

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