FinCEN Clears Path for Digital IDs in Bank Customer Verification, With Caveats
Federal financial regulators have clarified that banks and credit unions can use government-issued digital credentials to verify customers’ identities, potentially streamlining account onboarding. But according to an analysis by Anderson Insights, reliance on digital credentials could place new demands on institutions’ verification technology, compliance procedures and fraud controls. The…
We haven't written up this one. PYMNTS has the full story — the link below goes straight to it.
