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E-Banking Insight: What Is Customer Due Diligence & How Does It Work?



Fintech – “Computer programs and other technology used to support or enable banking and financial services” – Oxford languages 

With the expansion of fintech companies, digital banking started using a filtering process to investigate prospective clients, this is where Customer Due Diligence stepped in. 

A recently updated list of digital banks reported 350 functioning banks at present. (The financial brand) 

The figure is only increasing. However, with this digitalization, banks have been facing cyber threats. Cases like identity theft and money laundering can damage these firms. KYC, AML, and CFT regulars have become massively crucial. So much so that,

S&P Global reports: 67% of corporate treasurers avoid working with banks that may lack KYC compliance.

Let’s explore how CDD is providing solutions to banks and the way it works. 

What is Customer due diligence in KYC? 

What exactly is CDD?

Customer due diligence in KYC is a combination of verification processes that includes identifying a customer, authenticating the database, confirming the client profile as safe, and tracking their activities related to the business relationship. 

It plays an integral role in following the directives and demands of KYC and AML regulations. This allows enterprises to assess any risky profile while establishing customer identities. 

Types of customer due diligence 

Time to explore the types of CDD. There are mainly 3 types or levels of customer due diligence. The level of CDD is selected on the basis of the risk score of a profile. These are:

Regular (CDD)

This is the standard operation for low to medium-risk profiles. This includes validation of data and verification checks. Activities are monitored in case it becomes high-risk in the future. 

Simplified (SDD)

It is a simple verification of a low-risk and credible profile. In this, the basic identity information is authenticated. 

Enhanced (EDD)

This is an in-depth investigation of high-risk profiles with several background checks, confirming related databases in detail and monitoring their past and present activity. This can include their spending, transactions, occupation, tax history, and location.

Why Customer due diligence for banks Is Vital Today?

Here is a list of why customer due diligence for banks is saving Fintech from fraudsters at present! 

  • It helps with a safer remote onboarding process
  • Alert banks if a customer involves in any suspicious activity related to money laundering or terrorism financing. 
  • With the increase in terrorist militant groups, a secure fintech system assists in combatting terrorists. 
  • Can become a helping hand in catching identity thieves and criminals putting them behind bards. 
  • Avoid any heavy fines or penalties from the government in case of data loss or in compliance with legal mandates. 

5 Requirements Of Cdd bank For Accurate Verification

The damaging risk of money laundering and other illegal activities has resulted in the loss of millions of dollars. Banks are not an exception to this, on the contrary, they are the top targeted industry. As cybercriminals are evolving their techniques to breach data by misusing advanced tech, a sophisticated Cdd banking system is the need of the hour. 

The basic requirements that are essential to a KYC Compliance and AML-compliant operation are the following: 

1- Client Identification

  • It includes storing provided data of customers and establishing its profile for further analysis. It comprises Full Name, Date Of Birth, Present Address, Tax History, Property Ownership, License, Credit Card History, Bank Statement, and Income Slips. 

2- Document Verification

  • Then through AI automated software integration, the provided documents are verified as original. This step allows firms to categorize files as original or forged. This validation process against existing data helps determine the risk level of a customer in Cdd banks.  

3- Monitoring Activities 

  • Monitoring activities can range from tracking transactions to keeping an eye on customers’ locations. This assists banks to build a customer persona that consists of spending trends, behaviour with income, and frequency of transactions. 

4- Relationship with business and purpose of establishing it.

  • Figuring out the true purpose of a client in establishing a business relationship with the bank. 

5- Compliance with KYC and AML regulations 

  • AML mandates openly emphasize a risk-based approach in a successful CDD. CDD Banking depends greatly on complying strictly with KYC and AML laws. In case of any loss of personal information, banks are fined with heavy penalties. 

Reports To Keep In Mind About  KYC Process In Banking 

  • Fintech services in the USA require $25.3 billion every year to manage AML compliance costs. (Lexis Nexis Solution)
  • In 2022, the total fintech firms of the Philipines accounted for 13% of the e-wallet sector (Statista) 
  • 90% of customers are expected to quit the bank onboarding process if it takes longer than 1 hour. (Signicat via Paypers) 

As it is evident, creating a seamless, accurate, and high-speed automated Kyc process in banking is needed for a better customer experience. 

Which CDD system is perfect for banks in 2023? Find out! 

Although the need for stricter regulations is a necessity against the looming threat of fraud, some Customer due diligence systems are lacking in being completely KYC/AML compliant. However, there is nothing to worry about as you can explore ‘Shufti Pro’ as one of the best options for digital banks. It is a fully automated, accurate, highly configurable, and global verification system with optimized Cdd systems for Fintech enterprises. With a 25% higher customer onboarding rate, online banks can cut their extra costs by trusting Shufti Pro to do it all!

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Business Ideas

Interview with RISC-V International CEO Calista Redmond about the non-profit that oversees the open-source processor technology, industry adoption, and more 




Calista Redmond Martin from RISC-V International

It seems that you are interested in an interview with Calista Redmond Martin from RISC-V International. Let me give you a brief introduction about her and RISC-V International.

Calista Redmond Martin is the CEO of RISC-V International, a non-profit organization that supports and promotes the adoption of the RISC-V Instruction Set Architecture (ISA). The RISC-V ISA is an open standard that allows designers to create customized processors tailored to specific applications, from small microcontrollers to high-performance computing systems.

Redmond Martin has over 20 years of experience in the technology industry, including leadership roles at IBM, Hitachi, and the Linux Foundation. As CEO of RISC-V International, she is responsible for driving the organization’s strategic direction and supporting its global membership community.

In this interview, we’ll learn more about Redmond Martin’s career and her vision for RISC-V International, as well as the benefits and challenges of the RISC-V ISA and its potential impact on the future of computing.

Interview with Calista Redmond Martin, CEO of RISC-V International

Calista Redmond Martin is the CEO of RISC-V International, a non-profit organization that supports and promotes the adoption of the RISC-V Instruction Set Architecture (ISA). The RISC-V ISA is an open standard that allows designers to create customized processors tailored to specific applications, from small microcontrollers to high-performance computing systems.

Redmond Martin has over 20 years of experience in the technology industry, including leadership roles at IBM, Hitachi, and the Linux Foundation. As CEO of RISC-V International, she is responsible for driving the organization’s strategic direction and supporting its global membership community.

In this interview, we’ll learn more about Redmond Martin’s career and her vision for RISC-V International, as well as the benefits and challenges of the RISC-V ISA and its potential impact on the future of computing.

Can you tell us about your career path and how you became the CEO of RISC-V International?

Sure. I started my career in technology as a software engineer, working on mainframe systems at IBM. Over the years, I moved into leadership roles and worked on various open source projects, including Linux and OpenStack. When the opportunity arose to lead RISC-V International, I was excited about the potential of the RISC-V ISA and the opportunity to work with a global community of members who are passionate about open source hardware.

What are some of the key benefits of the RISC-V ISA compared to other processor architectures?

One of the key benefits of the RISC-V ISA is that it’s an open standard, which means that anyone can access and use the specification without paying royalties or licensing fees. This makes it easier for companies and organizations to develop customized processors that are tailored to their specific needs, whether it’s for low-power embedded systems or high-performance computing applications.

Another benefit is that the RISC-V ISA is modular and scalable, which allows designers to add or remove instructions as needed, depending on the requirements of the application. This makes it more efficient and reduces the amount of code needed to perform specific tasks.

What are some of the challenges that RISC-V International faces in promoting the adoption of the RISC-V ISA?

A: One of the challenges is education and awareness. Many designers and engineers are familiar with other processor architectures, such as ARM or x86, and may not be aware of the benefits of the RISC-V ISA. We’re working to address this by providing training and educational resources to help developers learn how to use the RISC-V ISA effectively.

Another challenge is ecosystem support. While there are already many open source software tools and libraries available for RISC-V, we’re working to expand the ecosystem and encourage more companies and organizations to develop software and hardware products that support the RISC-V ISA.

What do you see as the potential impact of the RISC-V ISA on the future of computing?

I believe that the RISC-V ISA has the potential to democratize access to custom processors and spur innovation in the industry. By allowing designers to create tailored processors for specific applications, we can improve efficiency and reduce costs, while also fostering innovation and new products and services.

Additionally, the open nature of the RISC-V ISA allows for more transparency and security, which is increasingly important in today’s digital landscape. I believe that the RISC-V ISA can help build a more open, secure, and trustworthy computing ecosystem for everyone.

Q: Can you tell us about some of the projects that RISC-V International is currently working on?

A: Sure. We’re currently focused on several initiatives, including expanding the RISC-V ecosystem, promoting education and training, and supporting our global membership community.

One of our key initiatives


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Business Ideas

Easily Streamline Social Media Scheduling & Gain Tons of Followers All At Once!




Social media management software is a tool that helps businesses and individuals manage their presence on social networks. It enables users to post content, schedule posts, track analytics, monitor conversations, engage with customers and more.

The benefits of using software to manage your social media accounts are numerous – from saving time by automating tasks to gaining insights into customer behavior and engagement levels. Such tracking methods can also be useful when purchasing Instagram followers or running ad campaigns.

Social media management tools can help you reach a larger audience, increase brand awareness and build relationships with potential customers or partners.

With the right approach, these tools can provide an invaluable resource for growing your business or personal brand online.

The Best Software For Getting More IG Followers

IG Automator is an excellent tool for getting more Instagram followers. It automates the process of liking, commenting, and following other accounts in order to gain exposure and expand your reach. With IG Automator, you can target users based on their location, interests and hashtags used in their content. This makes it easier to find people who have similar interests as you and are likely to follow back or engage with your content.

Additionally, IG Automator allows you to customize automated messages that will be sent out when someone follows or likes one of your posts – this helps build relationships with potential customers or partners quickly.

Growthoid is another great software product for boosting Instagram followers. Growthoid offers a variety of features such as automatic liking, commenting & direct messaging which help automate much of the work involved in growing a following on the platform. It also has an AI-driven feature which suggests profiles for you to interact with based on their engagement level – meaning it’s easy to focus efforts on those who are most likely to follow back or engage further with your content!

Sprout Social is a comprehensive social media management tool geared towards businesses looking to increase their presence online across multiple platforms including Instagram. It enables users to manage all facets of their social media marketing strategy from scheduling posts ahead of time through its calendar view feature right down tracking analytics & insights into customer behavior on each post too!

Sprout Social also provides tools specifically designed for increasing follower numbers like auto-following new followers & suggesting influencers they should connect with – making it ideal if you’re serious about growing your account fast!

Viral Upgrade offers both free & paid plans depending upon how many services/features you require from them so it’s perfect if budget is tight but still want access top-of-the line features like automated DMs (direct messages), hashtag targeting & competitor analysis amongst others; plus there’s even an ‘instant gratification’ option where Viral Upgrade guarantees results within

Scheduling Social Media Content

Buffer is an all-in-one social media management tool that allows you to easily schedule and publish content across multiple channels at once. With Buffer, you can quickly create, customize and share posts with your followers in a matter of minutes. It’s also great for scheduling content ahead of time, allowing you to plan out your entire week or month’s worth of posts in advance. Additionally, its intuitive dashboard makes it easy to track results like engagement rates and impressions – meaning it’s easy to optimize your posting strategy accordingly!

Hootsuite is another popular social media management platform used by many businesses and individuals alike. The main benefit of using Picuki or Hootsuite offers is the ability to manage multiple accounts from one central dashboard – making it ideal for managing multiple profiles on different networks such as Twitter or Facebook simultaneously. Additionally, Hootsuite provides users with detailed analytics insights into their performance – helping them understand which tactics are working best for them and why. This helps users make more informed decisions about what kind of content they should be creating & how often they should be sharing it online!

Tailwind is specifically designed for Instagram users looking to increase their following on the platform quickly & efficiently through automated tasks like liking photos & commenting on others’ posts based upon keywords entered into Tailwind’s intuitive interface. Additionally, Tailwind enables users to analyze competitor data so they can better understand what kind of strategies might work best in order to reach a larger audience faster than ever before!

Sprout Social is an advanced social media management software solution suitable for both small businesses right up to large organizations who need comprehensive solutions when it comes to managing their presence across various platforms including Instagram.

Sprout Social combines powerful automation features along with detailed analytics reports – helping brands discover which tactics are performing well & where there may be room for improvement within their campaigns too! Finally, Sprout Social also offers tools tailored specifically towards increasing followers fast such as auto-following

Best Practices for Increasing Followers

One of the best ways to increase followers on Instagram is by creating engaging content that captivates and resonates with your target audience. This could include anything from interesting visuals, informative videos, or interactive polls and surveys – whatever you choose should be designed to capture people’s attention while still being relevant to the message you want to convey.

Additionally, contests and giveaways are a great way to attract more followers as they can create excitement around your account and encourage users to share their experiences with others!

Engaging with other accounts is also essential for growing an Instagram following. An effective strategy involves interacting with like-minded influencers in order to leverage their larger audiences – this could include liking their posts, commenting on them or simply following them back. You may even want to consider collaborating with other brands if it makes sense strategically – this can help boost your own profile while simultaneously increasing exposure for both parties involved too!

Using hashtags & geotagging when posting content can also be beneficial as it helps make sure that your posts appear in front of relevant audiences who are likely interested in what you have shared. Additionally, getting creative with content is key – using different formats such as stories, IGTV episodes or live streams can all breathe new life into an otherwise stagnant feed which will result in increased engagement levels & follower numbers over time!


To conclude, using social media management software can be a great way to boost your Instagram followers and reach. These tools provide features like automated liking, commenting, direct messaging and hashtag targeting that make it easier for users to interact with potential customers or partners quickly. Additionally, scheduling posts ahead of time, tracking analytics & insights into customer behavior on each post are all ways that these types of platforms can help businesses get the most out of their social media presence.

Moreover, in order to increase your following on Instagram there are some tips you should follow such as creating engaging content which resonates with your target audience; engage with other accounts including influencers who may have larger audiences than yours; use creative formats such as stories or live streams; use hashtags & geotagging when posting content so it appears before relevant audiences – all of which will help give your account more exposure while simultaneously increasing followers over time!

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Business Ideas

How to Generate Business Ideas




  • Import ideas from abroad. Detect the moment when an idea that is working in another market can inspire you to import it into yours.
  • Adapt innovation to other sectors. If an application or technique has worked well in one field, why not implement it in another?
  • Observe the new social trends. Society is constantly changing, as are its needs. A market study will be the perfect ally to detect unexplored niches.
  • Locate needs not covered in the market. Identifying unsatisfied needs in the consumer is the main aspiration of any entrepreneur.Do you want to know what the needs of Consumers are?
  • Re-adapt existing products. Re-adapting any product that is already on the market implies improving it to successfully reach the consumer.
  • Pay attention to changes in legislation. Obviously changes in legislation modify behaviors and, therefore, give rise to new markets. An example can be found in the increase in the demand for hands-free kits for the car from the new DGT Road Safety Law .
  • Turn your hobby into a real business opportunity. We must discard the thought that a good business idea has to be revolutionary, since it may be more feasible than one thinks.

Some techniques to generate business ideas

  • Very fruitful ideas can come from an existing product on the market. Thus, by replacing some elements of an article it can be improved. An example of this is the famous Chupa Chups that arose from adding a stick to a candy.
  • Another technique is the elimination of attributes of the original product, while the inversion refers to modifying the contraption to its opposite form, such as, for example, the idea of ​​the pen corrector, which was born precisely because the previous one was conceived not to be able to be erased.
  • Exaggeration, on the other hand, has to do with changing the size or packaging, among others, of the original product. The two person bike is a good example. Finally, another technique is the reordering of product attributes.
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