Why you should not use a DIY solution for identity verification – and what you can gain by outsourcing the process.

According to “Account Opening and Onboarding Benchmarking Study” by Digital Banking Report “at some banks customers abandon up to 90% of new account applications prior to their completion”.

Short KYC Guide – explaining the regulations and how they are going to affect your company

What is the relation of AML to KYC? 4 steps of KYC compliance 1. Identifying the customer and verifying their true identity.2. Assessing customer risk.3. Identifying the beneficial owner and taking measures to verify that person’s identity.4. Ongoing monitoring and record keeping. Customer Due Diligence Risk-based approachWhat is the difference between SCDD and ESDD?Simplified CDD

Video KYC is now an allowed method of identity verification in India

 Video KYC now available in India RBI (the Reserve Bank of India) has now permitted fintechs, banks, and other financial institutions to use new customer onboarding methods. The focus is predominantly on video based solutions as these provide the most security. Video Based Customer Identification Process (V-CIP), as the RBI refers to video KYC, is