KYC Is Getting A High-Tech Makeover You Can't IgnoreRemember the early 2000s when opening a bank account involved filling out forms, attaching a photo, and signing a few papers? (Image Credit: Livemint.com)To combat these risks, the Reserve Bank of India (RBI) introduced Know Your Customer (KYC) regulations. Know Your Customer (KYC) is a process used by banks and other financial institutions to verify the identity of their clients. New TechnologyModern technology is making KYC faster and more efficient. Digital KYC automates many of these tasks, saving time and money.

Source: Mint June 24, 2024 07:05 UTC