Launching any startup involves a lot of challenges and opportunities. Businesses in the FinTech sector have to think about all sorts of metrics: customer acquisition costs, churn, monthly cash burn rates, and many other factors.

As part of this journey, FinTech startup founders also need to have an in-depth understanding of the role that know your customer (KYC) plays in the customer onboarding process. In many cases, this might require customers to complete KYC checks. Why is KYC so important? What are the major factors to consider before settling on a standard process or solution? …

Although you might think that customer onboarding in the digital era would be much easier than a few decades ago, there are numerous potential hurdles for organisations to consider.

Governments are passing new policies aimed at improving data privacy for their people and demanding better protection for investors. At the same time, organisations also face growing competition in their respective industries to reduce friction in the customer onboarding process. Here’s how digital identities can optimise onboarding processes while also prioritising adherence to regulations.

Prioritising Data Security and Privacy

GDPR and equivalent legislation have had a profound impact on global regulatory compliance efforts in the past…

Facial recognition and other biometrics technologies have gained massive adoption from a wide range of companies in the past few years. In this article, we’ll examine how these technologies work. Then, we’ll look at some current real-world applications as well as the risks and benefits for individuals and organisations.

What Is Biometrics?

Biometrics is the science of measuring physical and/or behavioural characteristics that are unique to each individual in order to verify an individual’s identity. Numerous types of biometric data types are in use today. A few examples include retina, fingerprint, and facial recognition. In this article, we focus specifically on facial recognition.

How Does Facial Recognition Work?

For organisations, know your customer (KYC) is all about finding efficient ways to prove that potential customers are who they say they are. Organisations need secure and reliable information to ensure they are providing accurate services to their customers. For individuals, they want more ownership of their data and simple onboarding processes to ensure an exceptional customer experience occurs and trust is developed. Between this, an effective KYC solution should be in place to ensure these transactions between organisation and customer are secure and frictionless.

Banking CIO Outlook recognises this challenge, and hosts a distinguished selection panel comprising CEOs, CIOs…

As data breaches are becoming more and more prevalent it’s hard to not become immune to them. Companies we know and trust are getting hacked right and left and, for many, it seems like there’s little we can do about it besides become a hermit and take ourselves off the grid entirely. But, that’s not the case and it’s poor judgment to ignore the possibility of hacks. While data hacks are increasing frequency in North America, there are some things you can do to keep them from affecting you or at least lessen the blow.

The worst hacks to date


Can’t live with ’em…

What a year 2018 has been! We’ve seen some incredible growth and developed some invaluable partnerships. With the holiday season just around the corner, we’ve taken some time to reflect on everything we’ve done and accomplished throughout the year. From launching our products and token sale to attending incredible events — you can read all about our 2018 year in review below.

January 2018

At the beginning of the year we became a core part of the Centrality ecosystem. …

Innovations in blockchain technology have already begun to change the way the global economy works. Blockchain not only allows for the creation of new digital currencies but also vastly improves the future of consumer protection.

In this article, we feature four major consumer benefits created by the development and adoption of blockchain.

1. Preventing identity fraud and data misuse

Identity fraud and data privacy continue to be major problems for consumers. In some instances, identity fraud is difficult to detect. In the US alone, 16.7 million people were victims of identity fraud in 2017, marking an all-time high.

For consumers who aren’t able to prevent such fraud…

In a manner of just a few years, blockchain has already begun to emerge as a technological game-changer for the financial services industry. The positive impact of this relatively new technology is only just beginning.

In this article, we’ll examine the some of the inefficiencies of current financial systems and explain how blockchain can provide vast improvements. We also list several real-world examples of how major banks have started to invest in and utilise blockchain.

Inefficiencies of Current Financial Systems

Managing Fraud in Finance- Fraud continues to be a major issue for consumers across the world. While one would expect that systems introduced in the…

Cryptocurrency exchanges are under immense pressure to prevent cases of fraud. Everything from potential exchange hacks/stolen funds to money laundering presents major obstacles for establishing and maintaining regulatory compliance. In this article, let’s try to grasp why crypto exchanges are at risk and outline a few strategies that can significantly optimise fraud prevention.

Report Finds Crypto Exchanges at Risk of Manipulation

Despite the fact that more established financial institutions (i.e. banks) have fraud prevention strategies in place, they still face numerous issues in meeting compliance standards. As you can imagine, newer institutions (i.e. cryptocurrency exchanges) are generally less prepared to follow ever-changing regulations and prevent fraud. This isn’t…

Despite the fact that most organisations across the globe prioritise strict anti-money laundering (AML) procedures, we continue to hear case after case of regulatory breaches.

In this article, we look at cases where organisations (a bank and three crypto exchanges) have either received large fines or had to shut down operations for not complying with regulations. Hopefully, by understanding what went wrong, other businesses can learn how to prevent similar AML breaches from occurring in the future.

FCA Fines Deutsche Bank

In January 2017, the UK’s Financial Conduct Authority (FCA) fined Deutsche Bank for over £163 million. Deutsche Bank actually agreed to settle at…

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Providing people with transparency, trust and control over their own data, whilst providing organisations the capability to make informed risk decisions.

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