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In a nod to those technologies, the increasing pivot toward online transactions and cross-border commerce mandates that, as Philipp Pointner, chief product officer at Jumio, told PYMNTS , “it’s important to leverage biometric-based technology to really prove your customer is who they say they are.
Regulators encourage these efforts to educate and set a high bar, as evidenced in public commentary by NCUA board member and former chair Rodney Hood. The issuance and use of a CBDC for cross-border payments could potentially help simplify intermediation chains, increase speed and lower costs.
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