Blockchain
Tevau Partners with Jumio to Enhance Identity Verification and AML Compliance in Blockchain Payments
The partnership between Tevau and Jumio is a significant development in the blockchain payment industry. This collaboration addresses the growing need for secure and efficient identity verification in the digital asset space, especially in light of increasing regulatory scrutiny. Here are some key aspects of the partnership:
1. Enhanced Onboarding Process: By integrating Jumio’s AI-driven identity verification solutions, Tevau aims to streamline its Know Your Customer (KYC) process. This will allow for faster and more secure onboarding of new users, reducing the potential for fraud and illicit activities.
2. Regulatory Compliance: Tevau’s acquisition of the Money Services Business (MSB) license in the US and the Trust or Company Service Provider (TCSP) license in Hong Kong reflects its commitment to adhering to financial regulations. This partnership with Jumio further strengthens its compliance posture, ensuring that the company meets anti-money laundering (AML) requirements effectively.
3. Convenient Digital Asset Use: The upcoming launch of Tevau’s physical and virtual cards, capable of converting digital assets to fiat currency seamlessly, illustrates the company’s dedication to making digital transactions more accessible for everyday use. This integration will allow users to transact without requiring merchants to adopt blockchain-specific payment solutions.
4. Strategic Industry Positioning: Tevau’s collaboration with Jumio sets a precedent in the industry by prioritizing security and user experience. This move is likely to encourage other blockchain payment companies to enhance their compliance and security measures, potentially leading to broader adoption of blockchain-based payment solutions.
5. Future Implications: As digital assets gain traction in the financial ecosystem, partnerships like this one could pave the way for standardized practices in the blockchain payment sector. The emphasis on robust identity verification and compliance might also lead to increased trust among consumers and merchants, fostering a more secure and reliable environment for digital transactions.
The partnership between Tevau and Jumio signifies a crucial step towards addressing key challenges in the blockchain payment industry, particularly regarding security, compliance, and user experience. This strategic move is indicative of the industry’s maturation and its readiness to meet the evolving demands of the digital economy.
Source: citybuzz.co
The post Tevau Partners with Jumio to Enhance Identity Verification and AML Compliance in Blockchain Payments appeared first on HIPTHER Alerts.
Blockchain
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Blockchain
This Week in Finance News: 11 Stories You Need to See
With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.
The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.
- Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few. - Cardinal Health announces two strategic additions to its portfolio
Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash. - BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems. - Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
“I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands. - Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately. - PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
- Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
- Finaya Unveils Nationwide Homeownership Platform
From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient. - GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too. - GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics. - Most US shoppers are encountering generative AI while shopping without realizing it
A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.
For more news like this, check out all of the latest finance-related releases from PR Newswire.
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