Post Tagged with: "KYC"

KYC May Be the Next Big Thing for Blockchain

KYC May Be the Next Big Thing for Blockchain

by November 29, 2016 at 12:45 pm 2 comments

Blockchain – still very desirable for banks and FIs, but not fully trusted yet – has already made its way to use cases and pilots in the financial services. Possibilities are endless, some say, but where is the next big success for blockchain? It’s KYC or Know Your Customer, accordingRead More

The Small Business KYC Challenge for Challenger Banks

The Small Business KYC Challenge for Challenger Banks

by March 16, 2016 at 3:00 am 0 comments

Compliance around Anti-Money Laundering and Know Your Customer (KYC) regulations is a challenge for many banks when it comes to on-boarding. A recent study by Thomson Reuters, covering 772 financial institutions (FIs) globally found the average time to onboard a new client currently sits 26 days. The longest reported timeRead More

Is Google Starting to Back Away From Google Wallet Card?

Is Google Starting to Back Away From Google Wallet Card?

by February 9, 2016 at 11:41 am 1 comment

Google has split its Wallet service into Android Pay and a Venmo-like peer-to-peer payments service. Now Google appears to have started to phase out the Google Wallet Card, which is a debit card issued by The Bancorp. To be sure, consumers can still order a Google Wallet Card here — IRead More

Bringing KYC digital identity to the Global Underbanked

Bringing KYC digital identity to the Global Underbanked

by November 24, 2015 at 12:12 am 1 comment

Are you really sure I am not a dog? Maybe I am a really smart dog with an AI implant pretending to be a human. Disclosure, Daily Fintech is written by a stealth mode AI venture as a proof of concept. Seriously folks, you cannot know my Identity. To readRead More

8 reasons Compliance keeps bankers, Fintech upstarts “up at night”

8 reasons Compliance keeps bankers, Fintech upstarts “up at night”

by October 31, 2014 at 3:50 am 1 comment

Compliance is a big ugly problem and it’s getting worse and nobody has nailed it yet. That should have entrepreneurs salivating. Investors say, “show me compliance deals”. Bankers say, “show me a solution”. Startup founders say, “we must spend our precious cash on lawyers and regulatory experts”. Nobody loves compliance. Everybody hates compliance. So it’s […]

Financial Inclusion Can’t Be Satisfied with Branches

Financial Inclusion Can’t Be Satisfied with Branches

by January 28, 2014 at 5:06 pm 1 comment

I was in India a few weeks ago speaking to the Reserve Bank and most of the primary Retail Banks about the impact of mobile and social media on the industry there. The new RBI Governor in India, Raghuram Rajan, has ruffled some feathers with his unconventional approach thus far, but he hasRead More

Bitcoin is Out of Control

Bitcoin is Out of Control

by November 18, 2013 at 3:21 pm 0 comments

A month ago you could buy a bitcoin from Mt.Gox for under $200. Last week, it would have cost you around $400. At press time today, that same bitcoin costs about $670. What’s going on? Why would any use so volatile a currency? Alternatively, the Dow Jones Industrial Average toppedRead More

How Much Customer Data Does GoBank Have?

How Much Customer Data Does GoBank Have?

by July 11, 2013 at 3:42 pm 3 comments

It turns out offering deposit accounts at Rite Aid stores may make risk management more difficult. GoBank, the new mobile-first bank account from Green Dot Corporation, has widened its reach lately, expanding its marketing to retail locations such as Rite Aid stores, and will shortly launch a marketing push onRead More

Why Facebook dropped Credits, and why FB is more important than ever (for Banks)

Why Facebook dropped Credits, and why FB is more important than ever (for Banks)

by June 20, 2012 at 3:52 pm 0 comments

It was announced yesterday that Facebook is going to start phasing out their Facebook Credits system. If you’ve been watching my commentary over the last few years, I had entertained Facebook becoming a sort of default currency for the web because of the platform’s ubiquity. However, like many things online, users and developers collaborated to […]