AML compliance starts with the due diligence undertaken during onboarding, generally put in compliance terms as Know Your Customer (KYC). The first step to AML is KYC, says Abhishek Dwivedi, an AML consultant with AMLabc, Amsterdam. “Some customers may be relatively riskier, not necessarily because of any terrorist links or high risk, and need to be monitored on an ongoing basis in the AML [...Continue Reading]
This week’s fintech picks feature a new lab in London, a new tech garage in San Francisco, tips before diving headfirst into a data lake and more!
UBS to Open Blockchain Research Lab in London
The lab will consist of 12 desks at Fintech accelerator space Level 39, which is a hub for financial technology startups. Oliver Bussmann, group chief information officer, said about [...Continue Reading]
Each week, we will be sharing five fintech-related articles that we find interesting. Take a look at the following picks that explore the digital revolution, how to attain the customer interface, Big Data and more. Dig in!
British Banking Association: Bitcoin is a Real Threat to Banks
According to a new report from the British Banking Association, cryptocurrencies continue to threaten revenue streams of [...Continue Reading]
For the 30 years I have been involved as a marketer and journalist in the financial industry, banks have remained secure in their position in payments, despite warnings to the contrary. Existing payments systems and reserve currencies may be safe from a future of bitcoins and RMBs for now.
Yet technologies that can lower costs and increase competition by making business connections more direct win in the long run.