A Regtech Study released by IRTA & Protiviti with encognize contribution
On November 14, 2019, the International RegTech Association (IRTA) and Protiviti have released the findings of a global market study they conducted to investigate the effectiveness of current ‘Know Your Customer’(KYC) processes. The study reveals an urgent need for more effective industry alignment to accelerate the digitizing of KYC processes and greater use of shared platforms. KYC processes involve the identification and verification of customers and help protect financial institutions’ services from being misused for illegal activities.
encognize G.K. was one of the direct contributors to the report preparation and review.
Full Press Release here
Full pdf report downloadable here (English version)
Pushing RegTech / FinTech innovation boundaries further...
Alternative Credit Scoring based on psychometric evaluation (AdviceRobo), 3FA solution through card-embedded fingerprint reader combined with digital wallet (Unikeys), Digital-Identity-as-a-Service based on distributed platform (Pikcio), Financial Industry- specific translation engine (Lingua Custodia) are as many innovative solutions that our encognize GK team was proud to promote between April and September 2019.
Beyond the active search of business partners ready to explore these innovative solutions in Japan, our team has also conducted focused seminar and had the honor to be invited to renowned industry events.
encognize sets the first ever "RegTech Innovators" booth
On February 08, 2019. Goodway GK hosted the 11th Japan Annual AML Conference.
Around 500 delegates, essentially risk and compliance practitioners from Financial Institutions operating in Japan, have joined to discuss themes like the coming FATF mutual evaluation, the shift to a risk-based approach or the automation of the AML/KYC function.
With eKYC regulation being amended in Japan, encognize GK took this opportunity to welcome some of their business partners on the first ever "RegTech Innovators" booth exhibiting at this event.
The following 3 RegTech Innovators have joined our shared booth and have demonstrated to a large panel of visitors how efficiency could be gained for client on-boarding in a digital era:
- electronic IDentification (eID) which provides compliant identity verification solution using video
- smartKYC distributed by Finantix which uses advanced NLP (Natural Language Processing) applied to structured and unstructured data to improve and accelerate client screening and filtering
- Pikcio which offers secure and GDPR-compliant Data Portability under a Digital Identity-as-a-Service (DIaaS) platform
You can find the full event report prepared by Goodway here. (Japanese ONLY)