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Navigating AML obligations in the age of virtual IBANs

The Payments Association

Navigating AML obligations in the age of virtual IBANs February 10 2025 by Payments Intelligence LinkedIn Email X WhatsApp What is this article about? The compliance challenges of virtual IBANs, focusing on AML obligations and regulatory gaps. Why is it important?

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Clear Junction Extends Named Virtual IBAN Services to VASP-Licensed Businesses

Fintech Finance

This approach enables full traceability of funds, streamlined reconciliation, enhanced AML and KYC processes, and greater institutional trust. This unlocks a range of crypto-specific use cases, including me-to-me transfers, fiat-to-crypto conversions, and automated treasury operations.

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Why staying put is no longer the safe option for payments innovation

The Payments Association

Security & compliance risks: Meeting growing AML, fraud prevention, and regulatory demands is difficult with rigid, outdated infrastructure. Improve resilience and security by embedding real-time monitoring, automated KYC/AML compliance, and fraud prevention directly into payment workflows.

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SEON Unveils AML Compliance Suite to Help Compliance Teams With AI-Powered Functionality

The Fintech Times

Digital fraud prevention company SEON is launching its expanded Anti-Money Laundering (AML) Compliance suite, introducing a range of AI-powered capabilities to provide enhanced support to fraud and compliance teams. We see the significant value of having one system that can help teams operate more efficiently and effectively.”

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How open banking and IPR are transforming payments in regulated sectors

The Payments Association

Why regulated payments still struggle Operating in high-friction verticals means threading a tight needle: AML and KYC checks are non-negotiable, while users expect fast, intuitive digital journeys. This isnt just a technical upgrade. Its a strategic shift. But legacy tooling often makes these goals feel mutually exclusive.

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AI Becomes the Banker: 21 Case Studies Transforming Digital Banking CX

Finextra

In a late 2024 cross-industry survey by SAS, banking and insurance executives reported the highest current usage of generative AI—60% in each sector are already using GenAI in some capacity, the top rate among industries. A global survey found that 98% of banking leaders either use generative AI now (60%) or plan to within two years (38%).

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Clear Junction Extends Named Virtual IBAN Services to VASP-Licensed Businesses

Fintech Finance

This approach enables full traceability of funds, streamlined reconciliation, enhanced AML and KYC processes, and greater institutional trust. This unlocks a range of crypto-specific use cases, including me-to-me transfers, fiat-to-crypto conversions, and automated treasury operations.

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