The FCA plans to reshape itself in a post pandemic world

The year 2020 proved to be an extremely challenging time for British financial services, with the pandemic representing one of the greatest shocks to the world’s economies. Covid-19 has brought forward a new world of financial services with new complexities and challenges. In a bid to successfully meet these challenges, the Financial Conduct Authority has[...]
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New report published on trade-based money laundering risk indicators

trade based money laundering
In an effort to help organisations identify trade-based money laundering (TBML), the Financial Action Task Force (FATF) and the Egmont Group of Financial Intelligence Units have recently published a joint report highlighting a list of indicators. This follows on from a report published in December 2020 by the same bodies highlighting pertinent trends and developments[...]
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FCA issues urgent warning on fraud that could cost you over £200 this Christmas

As Christmas approaches, the FCA has issued an urgent warning to consumers on fraudulent activity that is prominent during the holiday period. Utilising data from December 2019, the regulator found “loan fee fraud” was the third most reported scam, with it often being used by fraudsters to attempt to steal from consumer’s gift spending budgets.[...]
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UK Fraud Activity 2020 [infographic]

As criminals become ever more imaginative in their attempts to steal customers’ money, fraud continues to pose a major threat to the UK, which shows no sign of changing. This year, criminals have been exploiting and adapting to Covid-19 with a growth in fraud and scams that target people online, taking advantage of fears and[...]
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123signed partners with 4Stop’s automated KYB underwriting solution

123signed is excited to announce the addition of another partnership integration.  Clients can now access 4Stop’s leading KYB, KYC, transaction monitoring and fraud prevention technology via the 123signed platform. Underwriting merchants is a vital part of businesses sustainability. It’s the first level of defence against fraud and illicit activity towards an entity. However, for many[...]
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Compliance cost savings through automation

Compliance cost savings through automation
A significant amount of current merchant onboarding processes are based on the compliance/underwriting team doing manual review of information and decisioning. 123signed has developed a fully automated merchant and consumer onboarding platform that uses 90% technology and 10% underwriting resources.  The technology drastically streamlines the onboarding process and significantly reduces the number of compliance and[...]
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Customising your merchant application by industries

Merchant application
The type of information required in an application form during onboarding can vary greatly depending on the merchant’s industry. Your onboarding process should have the built-in flexibility to address the needs of your various markets and clients. 123signed enables acquirers, banks, fintech or insurance companies to create multiple customisable application forms based on your client’s[...]
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How can automated merchant onboarding enhance your remote workforce?

automated merchant onboarding can enhance your remote workforce
Is your compliance team reviewing application forms remotely? Having teams working remotely can have many benefits, however this comes with a heightened security risk and regulation implications related to storing of personal and corporate data. Having clients scanning and emailing sensitive documents in an unencrypted environment can significantly increase the risk for data loss or[...]
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Why should you automate your client onboarding process?

merchant onbording
Merchant onboarding application forms traditionally create many challenges for acquirers, including having the underwriting and sales teams constantly requesting missing documentation from your merchants. Most acquirers’ client onboarding processes are very complex and very manual, based on client history, industry vertical and location. 123signed removes the friction of merchant onboarding with our fully automated consumer[...]
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