NewBanking is centralising Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance, adding more security and protection of personal consumer data, accessing 3.8 billion payment cards worldwide. Customers are companies receiving payments under the Anti-Money Laundry and fight against terror legislation, such as e-money companies, gaming and payment solutions.

With NewBanking the cost of traditional payment will be reduced and companies no longer need to handle sensitive and personal documents such as passports and utility bills. Which they call verified money.