 Strike Date Optimisation (SDO) and DebiCheck are two vital tools for improving the efficiency of a business's financial management strategy. Both services provide companies with real-time, unique benefits, including automation, flexibility, and reduced fraud, not to mention, both are fully integrated into all major South African banks. Each benefit plays a role in streamlining the payment collection process between companies and their customers, clients, or members, equipping your business with a comprehensive payment solution. 28 Mar 2022 Read more The Regulation of Interception of Communications and Provision of Communication Related Information Act, often shortened to the Related Information Act or RICA, is the legislation that governs the interception of communications within South Africa. Coming into effect in 2005, the RICA processes were initially completed manually, though, over the years of technological progression, RICA has taken a paperless and contactless approach, becoming what is currently known as eRICA. Alongside eKYC and eFICA processes, businesses can now use eRICA to quickly and securely onboard new customers remotely, with a vastly reduced risk of fraud. 2 Mar 2022 Read more Know your customer, or KYC, is an essential business tool for identifying fraudulent activity before it becomes a threat to a company's finances and reputation. Unfortunately, the traditional KYC verification methods no longer have a place in a progressively digital business environment. Thankfully, in the current day and age eKYC services are readily available - a cutting-edge approach ensuring that fraudulent activity is evaded with real-time automated solutions. eKYC services are accompanied by two others: eRICA and eFICA, all of which equip a company to efficiently manage identity theft and account fraud and high-risk customers. 14 Jan 2022 Read more The emergence of the digital era has increased the efficiency of criminal activities, making it essential for businesses to revamp their fraud and money laundering defence strategies - and Politically Exposed Person Screening, often referred to as PEP Screening, is just one of many steps in the approach to safeguarding your business. This process is an essential combative measure used when onboarding and establishing business relationships with PEPs in order to maintain Anti-Money Laundering compliance, also known as AML compliance, and effectively protect business from financial crime. 23 Nov 2021 Read more FICA compliance assists businesses with mitigating financial and reputational risk in an age where money laundering and consumer fraud is an ever-rising concern. The FICA process ensures that credit is being extended to legitimate customers who are who they say they are. Verification of various data points allows businesses the opportunity to know their customers, and have data at hand with which to make informed, risk-based, onboarding decisions. 7 Oct 2021 Read more Education institutions in South Africa are migrating cash payments to DebiCheck in an effort to upgrade tuition collection processes and meet revenue goals. 21 Jun 2021 Read more E-commerce marketplaces face a unique threat: marketplace seller fraud - a saboteur of shopper trust. Through empowering sellers to transact directly with shoppers, a direct stream is created that is greatly beneficial to both parties. However, that same stream can easily become tarnished by fraud, because where there is a lack of robust verification, anybody and everybody can register as a seller. 17 May 2021 Read more Market-leading gym group, Planet Fitness, announced that it has adopted the latest in smart payment collection technologies for enhanced management of membership payments. This has transformed new member enrollment into a remarkably quick and seamless process and improved its collection success rates. 26 Jan 2021 Read more In the age of digital transformation, fraud risk management methods are ripe for reinvention. Businesses are incorporating multiple levels of tech-driven defense methods and systems. Such software systems are geared towards the accumulation of verified customer data with which to manage risk effectively. 30 Oct 2020 Read more Digital verification specialists, Bitventure, has partnered with TransUnion to enable South African business to optimise identity management strategies in an effort to reduce consumer fraud. 8 May 2020 Read more A friction-ridden KYC (Know Your Customer) process that generates erroneous results can cause severe damage to a business. Missing the mark on KYC is as dangerous as not having KYC processes in place at all. Traditional methods of KYC compliance do not offer the accuracy and specificity needed to detect fraudsters before they become customers. In turn, these daunting and dated processes are causing negative experiences for innocent customers. 2 Mar 2020 Read more |
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