Why is Digital KYC Important for the Financial Sector
16/01/2025 Technology
Price: 500000.00 ₹
Description
Digital eKYC is crucial for the financial sector due to its ability to enhance security, improve customer experience, and drive operational efficiency. By leveraging technology to verify customer identities, financial institutions can mitigate risks associated with fraud, money laundering, and terrorist financing. Digital KYC streamlines the onboarding process, making it quicker and more convenient for customers, ultimately boosting customer satisfaction and loyalty. Furthermore, it reduces operational costs associated with manual KYC procedures, such as paper-based documentation and physical verifications.
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