LONDON, June 10, 2020 /PRNewswire/ -- With life in lockdown continuing across the world, internet shopping is becoming the norm, as every business is by necessity now an online one – if it wasn't already. China saw a 215 per cent year-on-year growth in online grocery sales between January and February, and in the US online sales have increased by 52 per cent.
Global restrictions, social distancing rules, and every other change Covid-19 has made to our lives have forced businesses to adapt to new challenges, however. Chief among these are the new opportunities for fraudsters that increased online activity and transactions bring, with communications from governments and organisations regarding the virus being adapted to phishing scams by criminals. And with hugely increased demand, and more and more people forced to work remotely, it's becoming more difficult than ever to keep tabs on the scammers.
Data aggregation, KYC, KYB and risk compliance measures can be hard enough to implement in normal times, let alone during a pandemic. Implementing data services can take businesses many months, and the commitment of substantial resources and manpower. As a result, many just implement the minimum standards required, frustrated by the endless third-party data, AI and automation providers they often have to deal with. All the more worrying, given the increasing challenges companies face in these areas.
But in an article in Business Reporter, written by Chantel Meeley, (CMO), Ingo Ernst (CEO) and Alvaro Kurth (CRO) of 4Stop, describe how companies can remove the complexity of risk management integrations and manual due-diligence, and establish a real all-in-one solution, using KYB, KYC, compliance and fraud prevention technology.
4Stop is an orchestration hub that removes the hassle of engaging multiple operators to manage their data, replacing it with a one-stop shop that covers everything you need. 4Stop's KYB solution enables companies to receive all the data they need automatically in one harmonised view, where they can confidently accept or decline merchant accounts. The 4Stop KYC data hub encompasses one of the world's largest aggregation of KYC data services in the risk industry, to provide complete worldwide coverage, all with real-time activation and cascading verification logic. And its anti-fraud technology provides an automated, multi-faceted rules engine that performs dynamic decision-making risk analysis for granular risk monitoring and intelligence.
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This press release has been provided by Business Reporter (www.business-reporter.co.uk).
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4Stop brings together trusted information, managed services, technology and expertise – an unrivalled combination that will empower your business to make well-informed decisions to confidently manage regulatory risk, while providing you with tools to make proactive decisions and action change that will accelerate your business performance. The 4Stop platform has been developed with a full understanding of compliance needs – locally and globally, today and in the future. To learn more visit www.4stop.com or contact a representative directly at firstname.lastname@example.org
SOURCE Business Reporter