Successful workshop for top banks on the topic of “Remote KYC legitimization”
POS Solutions, KSV1870 and Fincredible present new methods for online FM-GwG legitimization and compliance key figures in Vienna
POS Solutions GmbH is pleased to announce the successful completion of a joint workshop with KSV1870 and Fincredible in Vienna. The workshop provided a platform for Austria's leading banks and financial institutions to exchange information on innovative methods and options for FM-GwG (Financial Market Money Laundering Act) online legitimation and to establish forward-looking solutions for meeting regulatory requirements.
At a time when compliance with anti-money laundering laws is becoming increasingly complex and demanding, banks and financial institutions are more than ever required to implement efficient and secure legitimization processes. The workshop brought together banking industry professionals and enabled them to learn about practical solutions and best practices.
Markus Mayrhofer, Managing Director of POS Solutions GmbH, commented: “We are pleased to be able to present new approaches to FM-GwG legitimization together with KSV1870 and Fincredible. These solutions not only offer banks greater security and efficiency, but also help them to better implement the strict legal requirements for combating money laundering and terrorist financing and to offer a better customer journey.”
Workshop highlights
The workshop included a series of presentations and discussions on the latest developments and technologies in AML-CFT legitimization, including:
- Digital identity verification through a combination of photo ID and PSD2 queries: The integration of new, secure technologies for the digital identification of customers that also meets regulatory requirements.
- Automated processes to prevent money laundering in the form of intelligent automated expense assessments: innovative solutions for automated monitoring and verification of customer data that enable fast and efficient risk assessment.
- Compliance optimization: strategies and tools to reduce the administrative burden on banks.
Michael Pavlik, Head of Sales at KSV1870, added: “The challenges for banks to efficiently implement money laundering prevention are significant. With our solutions combined with the expertise of POS Solutions and Fincredible, we can help financial institutions not only to overcome these challenges but also to achieve competitive advantages through optimized standard legitimation processes.”
Results and outlook
The workshop clearly showed that digital solutions for customer identification and legitimization play a key role for banks in meeting FM-GwG requirements. The presented technologies enable banks to digitize their processes and minimize risks while improving the customer experience. Participants showed great interest, particularly in the seamless integration of digital identity solutions into existing systems.
Christian Ochs, Managing Director of Fincredible, emphasized: “The digital transformation in the banking sector offers immense opportunities, particularly in the area of customer legitimation. With our technologies for verifying and checking customer identities and providing risk assessments based on this, we support banks in operating securely, efficiently and in compliance with the law.”
About POS Solutions GmbH
POS Solutions GmbH is a leading provider of digital authentication and signature solutions that are tailored to the highest security requirements and legal requirements. The company develops innovative IT solutions for banks and financial service providers to ensure compliance with compliance regulations and the efficiency of business processes.
About KSV1870
KSV1870 (Kreditschutzverband von 1870) is Austria's leading provider of business information and credit checks. With its expertise in risk management, KSV1870 supports companies and banks in making informed decisions and complying with legal requirements.
About Fincredible
Fincredible is an innovative FinTech company specializing in the development of identity verification and customer legitimacy technologies. Fincredible provides customized solutions to support banks and financial institutions in their digital transformation and compliance with legal requirements.
For more information about POS Solutions GmbH services, visit our website at www.pos.ag or contact us using the details below.