Live Assisted Video KYC vs Identity Verification and Biometric Checks

Published by Merryl Dusaran on April 1, 2020

The financial sector is competing over who will be the customer’s choice in terms of convenience, security, and overall customer experience. They go for innovations that can help them achieve the factors for customer preferences. With technology and the internet, several practices make the banking and financial industry’s transaction stress-free Read more…

Why Lenders and Insurers Shouldn't Fully Rely on Digital KYC Checks

Why Lenders and Insurers Shouldn’t Fully Rely on Digital KYC Checks

Lending and insurance firms comply with KYC and AML rules to prevent fraud and money laundering. They collect customer data, analyze and verify it. They need to know who a customer is, their economic background, and if it’s legal to do business with them. For them to conform with regulatory bodies, they welcome Artificial Intelligence (AI) into their business. With AI’s ability, they can rapidly evaluate the worthiness of the borrower’s credit and mitigate risk cost-effectively.