The Future of Compliance Technology: Paypod and PiChain The spike in financial crimes due to COVID-19 and continuous changes in the regulations have accelerated the adoption of Compliance Technology. Banks and financial institutions have to become more vigilant for suspicious activities. In order to keep up with the latest regulations and continuous monitoring of transactions, …
How Strong, Secured Digital Identity can avoid frauds in COVID-19? Early March 2020 onwards, COVID has ensured that we stay in our homes and use digital services as much as possible in our daily lives. The only way to avail digital services is to have a valid, safe and secured digital identity. What is Digital …
Leveraging Emerging Tech to combat Financial Crimes With the world getting digitized so fast, it is the need of the hour to integrate emerging technology with the banking and finance industry, which otherwise majorly depends on manual work. We are thankful to Anthony Muns from 8topod for having Shub, CEO of PiChain on their global …
Transforming Customer Due Diligence using e-KYC What is due diligence?  An effective KYC program has three parts; customer identification program, customer due diligence and ongoing monitoring. Although the first and third one is quite self-explanatory, Customer due diligence (CDD) involves a background check of the customer to analyze the risk they might bring about to …
Seamless Customer Onboarding using Digital KYC With certain procedures changing as the world battles the pandemic, one very successful change is the introduction of Digital KYC. Not only does it keep up with the safety procedure, but also makes life a lot easier. As per the new amendments, industry body, NASSCOM said, “The move comes …
eSign or Electronic Signature are Redefining the Era of Digital Signature With the ongoing pandemic of Covid-19, concepts like social distancing, digital transformation have surfaced. Majority of the businesses are shifting from the conventional method to digitalization. No physical contact, paperless transactions are now becoming a reality that the people need to abide by. Amidst …
Video KYC or V-CIP: A Monumental Step towards Digitalization A commonly heard term in the banking industry is KYC (Know Your Customer). KYC is the process or step in which there is an assessment of the customers’ profile. It evaluates the risk of the customers of a bank or financial institutions to ensure that they …
Pichain Awarded Prestigious Top AI Developers in Bengaluru Award by Clutch Us here at Pichain have some new and exciting information to share! We were just named as one of the top emerging technologies developers in the field of AI & Blockchain in Bengaluru by Clutch.co! Investing in AI technology is a smart choice for any business …
What is a Compliance Management Software? An organization’s adherence to professional and government regulations and standards per their industry, the compliance management software helps with the automation, centralization, consolidation and streamlining processes, data and communication for above. This management software provides compliance solution strategies which helps with risk management, deployment of optimized workflow and empowerment …
BMI Securities Limited (BMISL), a Hong Kong based financial securities investment firm, got a penalty of $3.7 million by Securities and Futures Commission (SFC). They failed to comply with the anti-money laundering (AML) and counter-terrorist financing (CFT) regulatory requirements. (#1) BMISL’s responsible officer, SFC did suspend Ms Maggie Tang Wing Chi for five and a …
Top Compliance Concerns for Financial Services Banks and Financial Institutions have many complex compliance requirements. The companies involved in financial services need to be particularly vigilant on compliance concerns. Penalties and fines, legal proceedings, loss of income and damage to reputation may be the consequences for neglecting or downplaying compliance. In order to address the …
Transaction Monitoring in Anti-Money-Laundering As the volume of transactions continues to increase and money laundering techniques become ever more sophisticated. The financial institutions face fundamental challenges on anti-money laundering (AML) in  transaction monitoring, making this an increasingly expensive task. What is Transaction Monitoring? In simple words, Transaction monitoring is an Anti-Money Laundering and fraud prevention …
Managing Business Risk with AI Developed countries in AI and cyber capabilities have a clear head start in establishing the control mechanisms to provide security for their citizens. Unfortunately maintaining that comparative advantage requires a significant ongoing commitment from a plethora of resources. First of the three specific risks includes hidden biases, not necessarily derived …

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