Page 3 - Colum Lyons News Today

Regtech company led by Colum Lyons provides an out-of-the-box identity verification solution for businesses that can be set up in minutes

ID-Pal, a leading identity verification provider, has announced it is formally entering the UK market following six years of exponential

ID-Pal, the identity verification provider, has announced it is entering the UK market after six years of growth across Ireland, the US and the EU.

Founded in Ireland, ID-Pal supports SMEs and enterprises across Ireland, the US, EU and UK Rising levels of identity fraud and the increasing complexity of regulation leaves businesses vulnerable to financial crime and the rising cost of compliance ID-Pal’s technology-first approach offers global coverage of over 6000 ID documents across 200 countries and jurisdictions

In 2020, ID-Pal raised €1m in a funding round led by Act Venture Capital and other private investors to accelerate its global expansion.

<p><span>This morning, the FCA announced that challenger banks need to improve how they assess financial crime risk. </span><span>Some failed to adequately check their customers’ income and occupation. In some instances, challenger banks did not have financial crime risk assessments in place for their customers at all.</span></p>

Asking the right questions helps to answer a major market need