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The digital kyc solution is solving the customer onboarding challenges of traditional kyc procedure. Find out how.
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www.getkwikid.com Digital kyc verification addresses customer onboarding challenges
The traditional KYC has many customer onboarding challenges Conducting the KYC procedure is mandatory for the banks and other institutes. The traditional KYC on the other hand does impose many challenges that the customers and businesses find hard to deal with. However, with the video KYC procedure being available things are about to change, and this digital kycsolutions is aiming to address the challenges imposed by the traditional KYC.
There is no longer a requirement to submit KYC forms, and photocopies of the original documents. This not only slowed things down, but was full of hassles for the customers and the risk of human error was there. Furthermore, the procedure was highly time-consuming as well. With video KYC this is no longer a problem, as it is paperless and takes place virtually, hence it offers the best customer onboarding platformto businesses.
The traditional KYC demanded an IPV, and the lack of adequate branches across the country meant, not everyone was able to complete the procedure. This latest digital kyc version solves this issue and now the banks can overcome geographical barriers and onboard clients from remote areas of the country too. This would not only help the customers access services but, this would also help businesses expand their boundary.
The traditional KYC was time consuming and this would certainly mean that the customer onboarding would be a lengthy process. With the video KYC, the process gets faster as the verification is done in real-time and more customers could be onboarded.
The new digital solution is definitely addressing the challenges that traditional KYC had, and now one could hope to find smarter customer onboarding solutions.
