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    The Future of KYC

    Today, in many organisations, know your customer (KYC) is still a manual and time-consuming process.

    Things are expected to change over the next few years, as more and more organisations started to implement automatic tools to streamline the KYC process.

    A good example of how organisations can utilize technology to enhance their KYC process is outlined below:

    1. Client is prompted to take a picture of a government-issued identification on their mobile device and submit it through the internet to the organisation.
    • The organisation can then automatically authenticate that identification.
    2. Client is prompted to take a selfie on their mobile device and submit it through the internet to the organisation.
    • The organisation can then automatically validate that the selfie matches the picture on the government-issued identification initially provided.
    • Furthermore, when a client takes a picture from their mobile device, the organisation will also receive the client’s location, device identification number and type of device operating system.
    3. Automatic screening against sanctions lists
    • The organisation can then screen the data against sanctions lists, PEP lists, law enforcement lists etc.
    4. Client connects social media account(s)
    • The organisation will then be able to understand clients’ interests, needs and anticipated behaviour during the business relationship.

    Read more at: https://www.kycbench.com/the-future-of-kyc/

    KYCbench, your reliable KYC partner
    www.kycbench.com
    GDPR & ISO/IEC 27001:2013 compliant
    Please contact KYCbench today, the most reliable ID verification processor at: contact@kycbench.com
    Join our Telegram Groups:
    KYCBench Announcement
    KYCBench Community

  2. #2
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    this looks great thanks. GDPR sure brings a lot of reforms to many industries

    Quote Originally Posted by KYCbench View Post
    Today, in many organisations, know your customer (KYC) is still a manual and time-consuming process.

    Things are expected to change over the next few years, as more and more organisations started to implement automatic tools to streamline the KYC process.

    A good example of how organisations can utilize technology to enhance their KYC process is outlined below:

    1. Client is prompted to take a picture of a government-issued identification on their mobile device and submit it through the internet to the organisation.
    • The organisation can then automatically authenticate that identification.
    2. Client is prompted to take a selfie on their mobile device and submit it through the internet to the organisation.
    • The organisation can then automatically validate that the selfie matches the picture on the government-issued identification initially provided.
    • Furthermore, when a client takes a picture from their mobile device, the organisation will also receive the client’s location, device identification number and type of device operating system.
    3. Automatic screening against sanctions lists
    • The organisation can then screen the data against sanctions lists, PEP lists, law enforcement lists etc.
    4. Client connects social media account(s)
    • The organisation will then be able to understand clients’ interests, needs and anticipated behaviour during the business relationship.

    Read more at: https://www.kycbench.com/the-future-of-kyc/

    KYCbench, your reliable KYC partner
    www.kycbench.com
    GDPR & ISO/IEC 27001:2013 compliant
    Please contact KYCbench today, the most reliable ID verification processor at: contact@kycbench.com
    Join our Telegram Groups:
    KYCBench Announcement
    KYCBench Community
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