Identity verification
Articles
Feb 14, 2022
Why it’s time to automate your customer verification process
You want the digital experiences your business offers customers to be highly functional and efficient. At the same time, customers expect a seamless online experience, as well as frictionless and secure payment choices. In order to meet those needs, verifying your customer’s identity with Artificial Intelligence (AI) and machine learning should be a fundamental first step for every business to deliver better online customer onboarding processes. However, many companies are still relying on outdated processes, causing unnecessary friction for customers and exposing their businesses to errors and potential costly reputational damage. Automating certain parts of the identity verification
Press releases
Jan 14, 2022
Yoti reveal new patent for tech that protects business and users against injection attacks during identity verification
Yoti reveal new patent for tech that protects business and users against injection attacks during identity verification New UK patent application counters potential security loopholes in browser injection attacks during identity verification London, UK – 14th January 2022: Global digital identity provider Yoti has today announced a new patent application for a SICAP (Secure Image Capture) product, which prevents browser based injection attacks that can otherwise occur during the identity verification process on websites. One of the most commonly carried out hacks on IT systems, an ‘injection attack’ is where a hacker injects their code into an IT system
Articles
Oct 28, 2021
Get ahead of new age and identity verification regulations with our handy guide to know your customer (KYC) processes
It’s no longer financial institutions, real estate, art dealers, casinos, lawyers, and accountants who are the main targets for financial crimes online. Criminals are finding it harder to use them for money laundering due to rigorous regulations and effective know your customer (KYC) processes. To go undetected, they have set their sights on online multiplayer gaming, online marketplaces, FinTech, online gambling and many more small and medium businesses. Lawbreakers are attracted to these platforms because they have little to no anti-money laundering (AML) and counter-terrorist financing (CTF) regulations. For example, multiplayer online gaming platforms have experienced
Press releases
Oct 18, 2021
Yoti approved to commence accreditation as a private digital identity provider under the Australian Government’s Trusted Digital Identity Framework
We have now been approved to commence accreditation as an identity provider under the Australian Government’s Trusted Digital Identity Framework (TDIF). The stringent accreditation process has already begun to validate the Yoti app and embedded ID verification platform under the TDIF accreditation standards. Accreditation will enable us to perform digital identity transactions to relying parties and verify individuals to a high level of trust. Trusted Digital Identity Framework: making space for digital ID As part of Australia’s drive to be a leading digital economy by 2030, the Australian Government Digital Identity System – led by
Articles
Oct 13, 2021
How to strike a balance between fraud prevention and seamless customer onboarding
Our Identity Verification solution makes onboarding as hassle-free as possible for your users. Digital identity verification has become a crucial part of onboarding customers, with businesses needing to check that they are genuine, protect customers’ data and mitigate fraud. Having identity verification embedded into your online customer journey ensures you have identified and verified your customers’ identities. Even so, it can be challenging to establish a balance. Finding the best way to streamline the customer’s digital experience while complying with know your customer (KYC), anti-money laundering (AML) industry requirements isn’t easy. Businesses are often forced
Articles
Aug 06, 2021
How AI and machine learning can help build better AML programs
As financial institutions move towards FATF-recommended risk-based AML programs, artificial intelligence (AI) and machine learning can help them be more effective and efficient in the fight against financial crime. The global framework for fighting financial crime white paper by The Institute of International Finance and Deloitte LLP highlights that: There is growing consensus that the current global framework for fighting financial crime is not as effective as it could be and that more needs to be done at the international, regional and national levels to help identify and stem the flow of illicit finance – an