First important point – FATF guidelines are NOT for companies or businesses or private sector, they target national authorities of FATF member countries. Which means, until FATF recommendations are implemented into the national law, they are not binding. So – What Needs to Change in the National Legislation?VASPs (Virtual Asset Service Read more…
Photo by Jonathan Sharp on UnsplashDid you know that in the EU, financial institutions are almost 100% responsible for fraud and account takeover losses, when dealing with consumers?Yes, even if the consumer is totally careless and uses “password123” across 250 different platforms and shopping sites 🙁PSD2 established that the financial Read more…
Liechtenstein recently confirmed its place as one of the most FinTech-friendly jurisdictions by adopting a new circular on digital verification of customers! What’s changed:In addition to 2-way video verification of customers, more options are made available to FinTech platforms.From now on you can also verify individual customers (and in some cases Read more…
Photo by Isaac Smith on UnsplashAs you’ve probably noticed, new solutions in digital verification of customers pop up every week, and I’d like to share with you 3 important trends that help tremendously with customer conversions.Reliance on 2-way human interaction during digital video onboarding or “liveliness tests” is likely to Read more…
Photo by Aslı Yılmaz on UnsplashI sometimes feel that confusions and misperceptions about passporting of financial licenses across EU/EEA is an ever-growing bubble.Today, we will burst this bubble once and for all!Passporting is a formal recognition of your company’s rights to operate freely in any EEA country (where you are Read more…
From time to time startup founders, regulatory consultants and corporate business developers spend their time on exploring new opportunities and building customer relationships. I have recently learned that it’s important to say “no” to a project or an opportunity very early on, even if it’s commercially interesting or has a great Read more…
The requirements on when to apply strong authentication for the EEA-based customers are outlined in the RTS on Strong Authentication – and they will fully come into force from the 14th of September 2019. Generally speaking, it’s required to apply strong authentication when: The user accesses their online account, Read more…
If your FinTech startup is in the process of applying for the bank account opening or preparing for partner due diligence, you will need to produce and submit TONS of documents! To help you navigate the process and make it a bit easier for you, we created a FREE Read more…
