Financial Institutions (FIs) need to set up appropriate identity verification mechanisms to secure the onboarding of new customers to their services and comply with stringent and evolving regulations such as Anti-Money Laundering (AML) Directive v5 and v6 and PSD2 in Europe.
Moreover, many financial services KYC procedures require demanding identity verification and genuine user confirmation during the entire client life cycle.
The Gemalto IdCloud risk engine performs additional background checks such as user attributes, device details and network information. These are all part of an essential step called identity affirmation and increase confidence by providing supporting evidence for an identity claim.
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