Question: Can you recommend a solution that helps with Know Your Customer (KYC) and customer due diligence for financial institutions?

For more advanced Know Your Customer (KYC) and customer due diligence solutions, LexisNexis Risk Solutions offers a range of financial crime compliance and risk assessment tools. The platform uses advanced analytics, machine learning and artificial intelligence to help identify customers, assess risk, and continuously monitor customers. It can handle a variety of risk types and regulatory requirements, making it a good choice for financial services companies looking to improve their operations and comply with anti-terrorism and money laundering regulations.

Another powerful option is Trulioo, which offers a range of tools for KYC and Anti-Money Laundering (AML) compliance. The platform verifies identity and documents in 195+ countries and 14,000+ document types, as well as verifies businesses and screens against real-time watchlists. Its Workflow Studio and API integration options make it a good fit for banking, payment services and online trading.

Onfido also deserves consideration with its AI-powered verification tool that automates customer onboarding and ensures global KYC and AML compliance. Its features include a Global Verification Suite, Smart Capture SDK and Atlas AI for automated onboarding. The tool is designed to get customers up and running quickly while reducing identity fraud risk, and is a good choice for businesses that want to improve their digital identity verification.

For an all-in-one identity verification tool, Cognito offers a platform that verifies IDs in more than 200 countries and supports 13,000+ ID documents. It also offers selfie verification, anti-fraud checks and daily watchlist screening. Cognito is designed to be developer-friendly with flexible integration options, so it's a good choice for businesses in high-growth industries that need to verify customers and comply with regulations.