October 2022: Enhanced due diligence for banks, how identity has changed over time, future-proofing your identity
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October 2022: Enhanced due diligence for banks, how identity has changed over time, future-proofing your identity

Enhanced due diligence: what it is and why banks need it

Enhanced due diligence (EDD) is vital in keeping your institution safe from bad actors. But what exactly is EDD, and how can you ensure your framework is up to the task?

Enhanced due diligence is a process of identifying and assessing potential risks associated with customers or transactions.

As for banks, they should remain steadfast in their efforts to understand business client risks.

To best protect themselves, banks should establish an EDD framework that takes into account the following risk factors:

  • Watchlists
  • Adverse media reports
  • Suspicious activity/suspicious transactions.?

Find out what concrete actions you may take if you want to improve your company's enhanced due diligence framework. Click here to learn more.



How identity has changed over the past 100 years

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As we celebrate the life of Queen Elizabeth, we also reflect on the transformation of identity verification and security over the past 100 years.

From simply who a person is, to encompassing everything about a person – both physically and digitally – the concept of ‘identity’ has changed significantly.

As we continue to develop new ways to protect our identities, we must also be vigilant in safeguarding them.

Witness how identity has changed over the past 100 years and how you can protect your identity in the digital age



Future-proofing your identity lifecycle

Financial institutions are under pressure like never before to adopt sophisticated identity lifecycle management solutions to prevent fraud and keep customer satisfaction high. But with so many options out there, how can you choose the right one for your needs?

In partnership with Vox Pop, Mitek creates a report that includes ideas and perspectives from respected innovators in the financial services industry.

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Get insights from Lloyds Banking Group, Nationwide, NatWest, Danske Bank, Mitek and Experian – so you can make an informed decision on where to take your digital identity strategy next.

Download the complete Vox Pop Report - Future Proofing Your Identity Lifecycle.



Modern KYC: orchestrating the future of identity verification

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As we enter a new decade, the importance of customer onboarding will only continue to increase.

A platform that provides powerful orchestration and intelligent user guidance to streamline customer journeys is in need.

That's where Modern KYC and Mitek's MiVIP come in.

Modern KYC provides a safe, secure, and satisfying customer experience. At the same time, Mitek's MiVIP platform helps organizations around the world take identity verification far beyond traditional KYC and KYB to reach new heights of customer delight.

Learn more the how these can help your business today

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