The Kingdom of Bahrain plans to improve client onboarding and minimise fraud through a partnership with Fenergo. Bahrain’s Electronic Network for Financial Transactions is working with Fenergo to implement a national KYC utility. The solution verifies customer identity via biometric identity and verification technology that links to Bahrain’s national identity card data before connecting to the eKYC hub, which determines required KYC and Anti-Money Laundering (AML) data and documentation for customer due diligence as required by Central Bank of Bahrain. Once customers are onboard, Fenergo writes data attestations to a blockchain for reuse by other financial institutions within the ecosystem.
A-Team Insight Blogs
The importance of data lineage has escalated in recent years in response to regulatory demand and increased business understanding of the benefits it can deliver. Like all capital markets technology, data lineage presents both challenges and opportunities, so how best can it be implemented and sustained? And how can your organisation reap the rewards of...
UK regulators are stepping up their efforts to digitise regulatory reporting over the next few years. The changes the Bank of England (BoE) and the Financial Conduct Authority (FCA) propose – and which are being developed jointly with the industry – promise a transformation in the way data flows between supervisors and financial services firms....
Now in its 3rd year, the RegTech Summit in London explores how the European financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.
The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...