Regulation, Innovation & Financial Services: Leveraging New Tech for Better KYC

Presented by

Parker Crockford, Director of Policy & Strategic Accounts, Onfido & John Beccia, Co-founder and CEO, FS Vector

About this talk

Identity fraud cost the United States $16.8 billion in 2017. For Financial Services, the issue is acute. Thanks to a recent spate of data breaches, SSNs and other traditional identifiers are no longer fit for purpose. But without identity verification, new customers can’t be onboarded. Increasingly strict KYC and CDD regulations are raising fresh challenges. Add too much friction, and the user experience suffers. New solutions will need new thinking – and new technologies. Join this webinar to learn: - How new regulations like NIST, the Banking Reform Act and GDPR are driving disruption in financial services - How financial services can leverage new technologies like biometrics, AI and machine learning for more scalable and secure digital onboarding - Why passive data proofing is no longer enough – and which authentication approaches to avoid

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Our AI-based technology assesses whether a user’s government-issued ID is genuine or fraudulent, and then compares it against their facial biometrics. That’s how we give companies like Revolut, Zipcar and Bitstamp the assurance they need to onboard customers remotely and securely. Our mission is to create a more open world, where identity is the key to access.