KYC Archives - Hydrogen

Know Your Customer (KYC) for Prepaid Cards

Prepaid cards are a popular method for handling money, but they're also subject to misuse. With growing regulations for these cards, Know Your Customer (KYC) and technological developments are critical to card issuers' safety and reputation. Regulations for Prepaid Cards As the world moves away from cash payments for the…

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Hydrogen Integrates with KYC provider Onfido

As we have examined, Know Your Customer (KYC), is very important in fintech. Our latest integration is with Onfido, which offers KYC for both individual and business identities and document verification. Their AI technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their…

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5 Problems Fintech Can Solve

Tech is changing the way the world works, including the financial world. In recent years, how people and businesses manage and receive money has changed considerably. Fintech, or financial technology, is in large part behind the massive shift in the industry. Apps, websites, and even new forms of currency have…

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The Know Your Customer (KYC) Process In 3 Steps

Every bank and financial institution is required to have a Know Your Customer (KYC) process in place to protect itself from becoming unknowingly involved in an illegitimate customer's financial crime. A KYC process includes having a Customer Identification Program (CIP) in place and practicing Customer Due Diligence (CDD). What Is…

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5 Common Blockchain Applications in Financial Services

Professionals within the financial services industry have been speculating about blockchain's potential for years now, waiting to see how the up-and-coming technology might one day impact business. Blockchain is already a buzzword. However, according to a recent IBM survey, 91% of banks are investing in blockchain solutions, and 66% of institutions…

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Blockchain in Banking

Terms like "financial ledger" don't exactly rouse a room, do they? However, gather a handful of banking professionals and present them with an unalterable, ledger-like database that instantly logs value-based transactions and reviews and registers changes in real time — without expensive third-party verification — and you're bound to hear…

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How KYC Due Diligence Can Protect Your Bank

Financial establishments need to take extra precautions when it comes to keeping their information and assets safe from fraud. This is why banks practice KYC Due Diligence when they make transactions or work with new consumers. What Is KYC? Short for “Know Your Customer” Due Diligence, this method is just…

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