Perpetual KYC (Know Your Customer) is a revolutionary approach to identity verification that is transforming how businesses meet regulatory requirements and improve customer onboarding. By continuously verifying and updating customer data in real-time, perpetual KYC ensures that businesses have the most up-to-date information on their customers, enabling them to identify risks, prevent fraud, and provide seamless experiences.
Traditional KYC | Perpetual KYC |
---|---|
Reactive approach, triggered by events | Proactive and continuous |
Time-consuming and manual | Automated and real-time |
High cost of compliance | Reduced operational expenses |
Limited customer insights | Comprehensive customer profiles |
Perpetual KYC uses a combination of data sources and verification methods to continuously verify customer identity and refresh customer data in real-time. This includes:
Perpetual KYC is a continuous and proactive approach to KYC, while traditional KYC is reactive and event-driven.
How can perpetual KYC improve customer experience?
Perpetual KYC eliminates the need for repetitive KYC checks, ensuring a frictionless onboarding process.
What are the key challenges of implementing perpetual KYC?
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