Know Your Customer (KYC) is a critical factor in combating financial crime and money laundering today, and customer identification is the most important aspect as it is the first step to better performance in other stages of the process.

Let's start with the definitions of KYC and eKYC and see how advanced identity verification systems can better support the KYC process. Have finished?

What is KYC? KYC is about knowing your customers and sometimes getting to know them.

KYC, or KYC verification, is a mandatory process that identifies and verifies a customer's identity upon opening an account and periodically over time. This means that banks need to know who their customers are.