The size of the e-commerce sector had tripled during the last five years. For the next 5 to 7 years, different research groups estimate its CAGR at between 14% and 20%. This opens the door for payment service providers to grow their client portfolios with more merchants from more countries.
However, the bigger merchant portfolios get, the harder their management becomes. The latest developments on the regulatory front, paired with the omnipresent reputational and financial risks at stake, mean payment service providers should take the next step in ensuring they have all the right tools to comply and protect themselves.
Automated adverse news screening is the latest mechanism to complement payment service providers’ comprehensive set of tools for overcoming financial, compliance, and reputational risks. It is here to take over the current model of manual work and exhausting due diligence processes and bring organizational efficiency to the next level.
Owlin’s adverse news screening capabilities help payment service providers prepare for the moment regulators start asking questions about their controls for covering financial crime risks. Global leaders in the PSP niche already use the platform to future-proof their in-house compliance functions and ensure protection against reputational and financial risks.
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