5 Top Banking Fraud Types to Watch in 2023

Both Know Your Customer (KYC) and Know Your Business (KYB) are essential processes used by companies and financial institutions to verify the identities of their customers and reduce the risks related to financial crimes like fraud and money laundering. So what's the difference between KYC and KYB? Though their goals are similar, KYC and KYB function at various levels of the business-client interaction and target distinct entities. Let's dive into this together. 

In today's digital security landscape, the debate between biometric security and traditional methods, such as passwords and PINs, is increasingly relevant. Both approaches offer several advantages, influencing their suitability for different applications. But which is more secure?

Biometric authentication has emerged as a transformative force in various sectors, and its impact on banking is particularly profound. As financial institutions strive to enhance security, streamline operations and improve customer experience, biometrics offer promising solutions.