Welcome to Mati's blog!

KYC & AML For Dummies: What KYC & AML actually stand for and why should you care

For this article, I’m going to suggest you put on your favorite jazz music, pour yourself a glass of your favorite red wine, and if you have a fireplace, light it up and get ready to be seduced by the sexy world of compliance. Just kidding, compliance might not be that sexy but it’s definitely important, and now that I have your full attention, I’m going to teach you once and for all what AML and KYC are.

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Online lending: How to build a powerful process to eliminate fraud

During the last two years, we’ve been actively discussing this crucial subject with our clients operating in online lending and microcredit spaces. Our objective was to understand how we could help them reduce drastically the number of default rates they encounter on their websites. The main keyword here? Process. And no, this is not a scary word – it’s just the most efficient way of dealing with user verification in your company.

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Lending: the 2 things you should ALWAYS ask your customers to avoid fraud in LatAM

Did you know that in Mexico, financial companies (ie. banks or lending services) were 3 times more targeted by fraudsters? Even worse: according to a study by Lexis Nexis from last year, the amount of money they lost to frauds is 8 times bigger than what other companies have declared. For them, cost of fraud tends to reach an awful 2.39% of annual revenue.

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Rental Industry & How To Fight Fraud

The Vacation Rental industry has, in recent years, become very targeted by fraudsters because of its high-ticket items (the average price of a fraudulent booking ranges from $238-$588, according to Sift Science) and intangible goods – which means there is nothing to collect. In addition, with instant booking capabilities, it becomes increasingly difficult for small teams to investigate every transaction and quickly detect fraudulent activity.

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