pKYC: Streamlining Customer Due Diligence in the Digital Age

The financial landscape is evolving at breakneck speed, powered by digital transformation and an increasingly interconnected world. In this dynamic environment, traditional KYC processes struggle to keep pace, often resulting in friction and inefficiencies for both institutions and customers.

Exploring the Power of Seamless Onboarding Through TradeNet by KnowledgeNet

In the fast-paced world of finance, staying ahead means embracing digital solutions that boost efficiency and security. TradeNet by KnowledgeNet stands out as a revolutionary force, providing investment businesses with a seamless onboarding process. In this blog post, we'll uncover the transformative capabilities of TradeNet and how it leads to faster, more secure onboarding experiences for brokerage and custody businesses.

Unlocking New Revenue Streams in the Financial Sector The Power of Data Monetization

In the arena of banking, transforming data into profit is increasingly a focal point. This process, often termed as data monetization, isn't just about selling data. It's about creatively using this wealth of information – from financial transactions to customer habits – to devise new services, enhance customer engagement, and, importantly, to open up new channels of revenue. Banks have a treasure of data at their fingertips. The challenge and opportunity lie in using this data responsibly and innovatively while safeguarding privacy and adhering to strict regulations

The Power of Datability in Crafting the Golden Record

In the complex landscape of customer data management, the quest for a consolidated and accurate view of customer information is a persistent challenge. Banks and financial institutions, irrespective of their size, often deal with a multitude of entries for a single customer across various systems, leaving decision-makers with a crucial question to consider: which dataset is the key to uncovering the ultimate truth?

How Airtel Payments Bank and MobiKwik Embraced Open Banking to Drive Costs of Customer Acquisition (CAC) Toward Zero

Airtel Payments Bank realized that open banking’s greatest opportunity lies in India because it has the region’s largest population of underbanked people. Most Indian adults have a bank account, but but commercial banks only serve the top 100 million to enjoy access to financial services, such as loans, insurance, or wealth management. There are up to 800 million people with bank accounts but who are excluded from the formal financial sector. Banks Banks don’t serve them because the costs of doing so outweigh the amount of business these people can provide.

Unlocking Success: The Key to Reliable and Trustworthy Data Quality

Data quality is a crucial factor for any business that wants to make informed decisions. It refers to the accuracy, completeness, consistency, and timeliness of data. Poor data quality can lead to incorrect decisions, lost revenue, and increased costs. Therefore, it is important for businesses to establish data quality standards and practices to ensure that their data is reliable and trustworthy.

The Key to a Data-Driven Organization

In today's data-driven world, organizations that want to stay ahead of the curve need to empower their employees to make decisions based on data. This is where data democratization comes in.

The Importance of KYC Data Quality

Know Your Customer (KYC) is a critical process for businesses to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) regulations. KYC involves collecting and verifying customer information, such as name, address, date of birth, and occupation. This information is used to assess the risk of a customer being involved in illegal activity.

A Game Changer for Banking Data Analytics and Reporting

Welcome to the era of Predictive Analysis, an innovative approach that revolutionizes the game in the banking industry. Predictive Analysis is gaining immense importance as it enables banks to forecast future opportunities, identify potential threats and make data-driven decisions.

Navigating Regulations with Data

Regulatory technology, or RegTech for short, is becoming an increasingly popular solution for banks navigating complex regulatory environments. As regulations become more intricate and ever-changing, financial entities are turning to technology to help them keep up.

MENA Open Banking Revolution Is Here & It's Here to Stay… Act Now!

Past few months, we observed major power-plays in MENA. Big banking players celebrating tech platforms in (e-commerce & Fintech) partnerships, where the platform will become a financial product offering platform!

Empowering Banks in the Era of Open Banking Payments

The financial world is undergoing a major breakthrough, enabled by the evolution of Open Banking Instant Payments. With the imminent release of Open Banking Payment Initiation Services (PIS) by the Saudi Central Bank (SAMA) and UAE Central Bank issuance of “Aani” following CBE IPN, financial institutions are grappling with the challenge of instant payment compliance. The game-changing shift from Incumbent bank-to-bank transactions is set to disrupt traditional revenue streams, as intermediaries are no longer part of the equation. As banks expect to face shrinking in their revenues from traditional transactions, the need for innovative solutions has never been more urgent. In this context, we introduce some of the proposed ideas for banks to keep up with the pace and maintain steady growth through instant payments disruption.

KYC Operations with Datability: Precision, Efficiency, Accountability and Compliance Made Easy

In the complex world of financial services, the importance of an efficient and precise Know Your Customer (KYC) process cannot be overstated. With regulatory landscapes constantly evolving, Organizations find themselves dealing with the dual challenges of maintaining compliance and ensuring operational efficiency. This is where Datability steps in, offering a cutting-edge solution to transform the landscape of Client Lifecycle Management.

The Inseparables: OB Compliance, Security & Reputation!

Why does some Financial Institutions compromise their reputation, by not fully complying?

Imagine the consequences of a security breach due to some incompetent, non-compliant solution!!

Numerous Financial Institutions (FI) in Saudi Arabia, despite the release of Open Banking compliance mandates since Q4 2022, find themselves in a risky position. Entrusting inexperienced non-certified service providers has led to the failure of their full compliance, exposing them to security risks, penalties and reputational-loss.

And this is only for Account Information Services (AIS), which for sure can’t be tolerated by any means in the Payment Initiation Services (PIS)!