CIP

This blog explores how a recent FinCEN ruling allows financial institutions to collect your taxpayer identification number (TIN) from a trusted third party, streamlining the digital account opening process while maintaining strong identity verification and enhancing customer trust.

In this blog, we detail how the FDIC's new guidance, influenced by Prove's advocacy, allows banks to use pre-filled customer data for CIP. This change, empowering solutions like Prove Pre-fill®, significantly reduces friction, enhances security, and improves financial inclusion in digital banking by streamlining account opening and combating fraud.

Learn how to integrate CIP compliance seamlessly into your app without compromising user experience.