Category Forum

When we talk with clients and KNOW attendees about their most pressing challenges, onboarding frequently tops the list. So on Thursday, June 27th, we got together with 50 professionals from across the NYC identity and financial services community to compare notes about building KYC and onboarding that actually works – both for banks and their customers. 

“Innovation in Identity: Banking and Consumer Onboarding,” presented in partnership with Uniken, featured an expert panel discussion, a new product launch, and a live State of Identity podcast recording, capped off with two hours of networking.

The event kicked off with Laurel Road BSA/AML Officer Doug Yano, Petal Fraud Lead Alex Constantino, and Uniken COO Robert Levine joining OWI’s Kaelyn Lowmaster on stage for a practical look at how they’ve managed onboarding-related challenges for digital financial services. Effective identity verification for digital native users – especially those who tend to have minimal credit histories – was a persistent theme. The panelists emphasized better dialogue between legacy banks and fintechs to provide more “invisible” KYC and identity verification while tackling persistent fraud channels including synthetic identities, call centers, and SIM swaps. The session ended with a broad call to action for better regulation around personal data usage, and moving beyond SSN-based identity to stem the tide of synthetics and include more good customers in financial services. 

Forum attendees then got an exclusive first look at the debut of Instnt, a new service spearheaded by Sunil Madhu and Mimi Salcedo that’s aiming to become the “Stripe for onboarding.” Instnt features an Open Trust Protocol designed to cut onboarding costs, reduce false positives, and eliminate liability for fraud losses. It came out of stealth just in time for the Forum, and we’re happy to welcome an exciting new player into the burgeoning NYC identity space.

The event wrapped up with a live State of Identity podcast recording. Host Cameron D’Ambrosi chatted with Dr. Leon Perlman, Founder of the Digital Financial Services Observatory at the Columbia Institute for Tele-Information. Dr. Perlman talked about the need to move beyond KYC to CIV – customer identity verification – in order to keep up with the new generation of digital financial services. We won’t spoil the rest of the conversation for you – subscribe to the State of Identity podcast feed and stay tuned for the NYC Forum episode to drop soon!

Many thanks to the speakers and KNOW Identity community who participated in this event. We look forward to seeing you at our next KNOW Identity Forum in DC on July 11!

For more information about upcoming KNOW Identity Forums and how to get involved, please visit our website or contact us directly at info@oneworldidentity.com.