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KYC, GDPR, and PSD2: major trends from Money 20/20 US

Last month, the Whitepages team headed to Las Vegas for Money20/20, where we got to meet professionals in the Payments industry, attend sessions to learn about topics like PSD2, and reconnect with customers.

Over 12,000 people attend Money20/20’s flagship conference in Vegas. It’s easy to get lost in the shuffle, but if you keep your head above water, you’ll see a few recurring themes:


Know Your Customer (KYC)
Due to the increasing number of data breaches over the last few years, financial institutions are looking to vendors to help them perform supplemental risk checks on top of traditional KYC requirements. It’s easy for a fraudster to get a name, address, social security number or date of birth from the dark web, which exposes banks and credit card issuers to massive fraud risks.

Whitepages’ phone, email, and IP data are great signals to layer on top of KYC checks to ensure fraudsters are not able to sign up for bank accounts or credit cards. Learn more in this blog post.


General Data Protection Regulations (GDPR)
The United States is still a bit behind in regards to understanding the European Union’s General Data Protection Regulations (GDPR). While most sessions and conversations on this topic at Money 20/20 were very high-level, it’s good to see that even US-focused businesses are thinking about how to better protect consumer data, which is a trend we’ll continue to see globally.

Fortunately, Whitepages has been preparing for GDPR for well over 18 months, is fully compliant, and has implemented the proper controls to allow European consumers to exercise their rights under the regulation.


Payment Authentication
With 3DS 2.0 launching in early 2019 to support PSD2 Strong Customer Authentication requirements, merchants are thinking more and more about how to share more data with issuers to get them to authorize more transactions.

Whitepages helps merchants, card brands, and issuers understand if the information passed along as part of the authentication or authorization message actually check out or not. By verifying that the name, address, phone number, email address, and IP address are actually associated with each other, issuers can more confidently approve transactions.


We hope to see new and returning faces next year at Money 20/20 2019!

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