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Banks Decided Who Is The King of KYC

25 of the world’s biggest banks have chosen who is the best Know Your Customer (KYC) service provider recently.

On September 18, 2020 the Finance Digest Awards 2020 announced Swiss company GlobalPass a winner in the Most advanced and comprehensive KYC Solution in the market category.

GlobalPass the winning KYC service provider

GlobalPass is an innovative and highly scalable Know Your Customer (KYC) verification service provider that aims to change the way the identity verification and screening industry is shaped.

Founded in 2014 Switzerland’s company beat off the tight competition in the most advanced and comprehensive KYC solutions category. The company offers advanced and market innovating screening solutions for global financial clients.

According to the award organizers, GlobalPass KYC solutions allow its clients to ensure that they can confidently conduct their regulatory compliance and Anti-Money Laundering (AML) functions.

“We are honored to have been recognized as the most advanced and comprehensive KYC service provider by Finance Digest Awards. This award strengthens GlobalPass status as a leader in KYC screening and client onboarding industry”, said Audrius Ringaila, the CEO of GlobalPass.

GlobalPass conducts the verification process by applying the coherent methodology, which involves analyzing the document, IP and geolocation, biometric scanning, checking up databases, and advanced personal research. To guarantee the highest level of security the Swiss company involves ID verification through real-time screening and contacts with the live experts.

The importance of KYC

Financial institutions constantly face the risk of money laundering and financial crimes. Their reputation strongly relies on the customer onboarding services, thus it is critically important to provide quick and accurate customer identification and verification procedures when onboarding both individual or corporate clients.

According to PwC’s Global Economic Crime and Fraud Survey 2020, financial fraud rates remain at record highs and caused over $42 billion damage within a single year. Multiple organizations became victims of financial crimes due to poor due-diligence when onboarding customers or business partners.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

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