Know your customer
KYC, which stands for “Know Your Customer,” is a process used by businesses and financial institutions to verify the identity of their customers and assess their potential risks in terms of money laundering, terrorism financing, and other illegal activities. The origins of KYC can be traced back to the early 2000s when international bodies, such […]
Read MoreFinancial Services Compliance and Risk Management
Compliance and Risk Management groups within Financial Services organizations are responsible for setting up and managing an effective compliance program covering: Establish and adopt written policies, procedures, and standards of conduct Create a programming oversight Provide staff training and education Compliance Programs are setup for Risk Identification Identify the different types of risks […]
Read MoreBuy Now Pay Later
What is Buy Now Pay Later? Buy Now Pay Later also known as BNPL is a form of consumer lending with the present version introduced in 2012. BNPL allows consumers easier access to online purchases through installment plans. During the pandemic as online shopping became the norm these programs like BNPL gained popularity. BNPL platforms […]
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