Building digital trust into your onboarding tech stack

Given that U.S. commercial banks hold more than $23.4 trillion in assets, and credit unions have around $2.2 trillion, they have a vital role to play in the fight against fraud and money laundering to protect customers and other victims of crime — and themselves. After all, the financial, regulatory, and reputational risks could be severe.

Ensuring compliance can be extremely challenging. As global markets, digital currency, and information security continue to outpace traditional systems and structures, the financial world is becoming increasingly complicated, and hidden threats are harder to spot. Against this backdrop, building layers of vigilance and embedding trust into your systems is essential — increasingly, financial institutions are relying on smart tech tools to achieve it.

In this white paper, we cover:

• How banks and other financial institutions can build digital trust into their onboarding processes
• The importance of adhering to anti-money laundering, know-your-customer, and customer due diligence regulations to prevent money laundering and maintain operational integrity
• Case studies demonstrating the effectiveness of Thomson Reuters Risk & Fraud Solutions in enhancing customer identification programs and streamlining AML processes