KYC Technology

KYC (Know Your Customer) technology refers to digital tools used by financial institutions to verify the identity of their clients. It involves collecting and analyzing personal information, such as IDs and documents, often through automated processes, to ensure the customer’s identity is genuine and comply with legal regulations. This helps prevent fraud, money laundering, and other financial crimes. Advanced KYC systems may incorporate biometric verification, data analytics, and secure online platforms, making the process efficient and secure for both the institution and the customer.