Looking for a loan? Want to send money abroad? How about a credit card? Hardly a few years ago, you’d be more likely to visit your local bank or bureau de change for such services. Thanks to the FinTech revolution, this has now changed. The ongoing proliferation of digital FinTechs is constantly redefining User eXperience (UX) and acquainting consumers to better products and services. Customer onboarding is key to designing such a frictionless customer UX whilst ensuring compliance with the prevailing laws and regulations. ...

Complying with AML/KYC requirements is no longer a mere bureaucratic formality for the sole purpose of obtaining an operating license from the relevant competent authorities. Nowadays, regulators expect a demonstrable risk-based AML approach regardless of business size or nature, as long as it involves an asset of intrinsic value. Therefore, AML/KYC compliance has become an essential step for any startup or established business in the FinTech area. Blockchain and crypto-based startups targeting Initial Coin Offerings (ICOs) are not an exception here. ...