Electronic Know Your Customer (eKYC) is the digitization and automation of the manual customer verification process. It is a rapid, paperless means of determining and verifying customer credentials.
Discarding the need for manual in-person verification, this method of client verification offers a simple alternative that allows businesses to validate customer information in real-time, regardless of their location.
eKYC is a client onboarding approach that offers businesses reliable fraud prevention solutions around the clock, ensuring their protection against financial cybercrime. Not to mention, it is much less time-consuming which improves efficiency and enhances customer experience.