Many organizations struggle to implement an efficient KYC process. However, let us tell you that you can adopt the right technology to meet KYC and AML (Anti-Money Laundering) standards and identity verification criteria. Professional services with user-centric design can give an extra smoothness in areas where you need to ask your consumers for more details…

Governments and central banks around the world have been expanding the scope and reach of their KYC policies to combat illegal activities that use the financial industry. As a result, effective KYC compliance can create new regulations to cover nearly every aspect of the global financial ecosystem. One of the reasons for the increased focus…

The term KYC stands for “Know your customer”. KYC is used before onboarding them to your organization or system. KYC refers to the procedures and controls businesses must implement to verify their customers’ and clients’ identities before and during a commercial engagement. Under KYC compliance, customers need to produce personal information. Most banking institutions, credit…

KYC or “Know your customer” is the most important aspect of identifying customers before onboarding them into a digital system or organization. The banking sector needs to embrace the KYC to ensure they are dealing with the real customers they claim to be and protect themselves from financial frauds or losses due to illegal financial…

Thanks to the current digital transformation caused by COVID-19, many organizations have to update their customer verification process. This includes working with a KYC, or Know Your Customer, the digital solutions provider. What are KYC Platforms? These are software applications that help businesses maintain certain legal guidelines. Essentially, they aim to meet the ever-changing needs…

KYC compliance, with KYC acting as an umbrella term for identity verification, refers to the regulatory obligations of institutions, whether financial or not, to identify their clients. There are a few main goals of the KYC process: identifying the customer, verifying their identity, recognition of their activities and funding and monitoring said activities. “Red flags”…

In these modern times, making transactions worldwide has become quite easy. However, institutions need to be able to verify their customers. Know Your Customer (KYC) is a verification method that is common in the financial industry. If you have ever applied for insurance or opened a bank account, then you are familiar with KYC checks….

Many businesses and organizations, especially those in the financial sector, are investing in KYC digital solutions. Nowadays, regulations to verify customer identities are becoming increasingly complex and strict. Know-Your-Customer policies and regulations require businesses to perform reasonable due diligence to identify and retain important data concerning every customer.  What is KYC? Whether your business needs…

Know Your Customer (KYC) is a practice done by companies and other financial institutions to identify and verify their customers in compliance with the laws, regulations, and other legal requirements. KYC is the first step in establishing a relationship between a business and its clients and maintaining that relationship.  It ensures that company owners and…

I am sure, and just like us, even you have got thousands of messages from your financial planner or bank to get done with the KYC process. So, what exactly is a KYC, and currently, what makes it so indispensable? The term refers to “Know Your Customer” and stands true to the name. The particular…

No matter where you go today, particularly in the finance domain, the need for KYC is more vocal than it ever was. The system is highly accredited all over the world and, in most cases, has been well incorporated into the system as well. It is this popularity that makes many individuals ponder as to…

The term “KYC” or “know your customer” has a very technical meaning and is as simple as the phrase can get. It is a digital process that ensures that all the basic customer details have been put in so that identification becomes easy. Currently, with such wide digital prevalence, it becomes very difficult to move…