AI
KYC

Know Your Customer (KYC) is a set of standards that make it mandatory to verify your customer’s identity before they open an account with your business. These regulations also require organizations to assess each customer's suitability and to examine any risks involved in maintaining a business relationship with a client.

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The problem that usually comes with KYC procedures is that most of the time it's done manually. That's time-consuming and there is a possibility for human error when data is input by hand. The costs for this clumsy process are enormous as you might imagine. On top of that, it worsens the customer experience as the process in some instances can take weeks or months.

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What if there was a way to automate this process?

 

That's when AI KYC, comes into play. By automating the KYC process, you will be using the most cost-effective, time-efficient, and accurate method. Additionally, it checks the quality of the uploaded images and detects fraud.