An integral part of a bank's KYC and AML work is focused on ensuring that Politically Exposed Persons (PEPs) cannot abuse the bank’s services for their own gain. Things slip through, though.
But oversight overeagerness on the part of FIs can create issues for those associated to PEPs as well as prevent the FI from focusing on genuine detection.
The shift towards digital currency adoption led to the the recent launch of PayPal USD, or “PYUSD,” marking a seminal moment in the finance industry’s evolution.
On December 6th, executives from PayPal and Paxos will discuss the rise of stablecoins, the growth of PayPal USD, and the future of money.
In catering to pressing enterprise needs, ad hoc payments may complicate companies' routine invoicing and payroll processes, introducing interruptions.
However, a spike in senders embracing instant payments in ad hoc transactions indicates that a shift toward speedier and more responsive payments is likely underway.
