December 2023

Significance of the KYC Verification in the Banking Sector

Discover how KYC verification is a significant tool to fight against data breach cases and fraudulent activities. The KYC verification enhances the security of the organizations. Know Your Customer (KYC) verification is done to know your client, this process is done while onboarding the user. This is a mandatory task, the banks open the accounts of their users after authentication.

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