KYC Verification

During the onboarding process since the money launderers, malefactors and criminals intend to use forged identities to conceal their true selves, KYC laws have made it mandatory for Financial Institutions to identify and know their customers by ensuring to the extent of assurance that those customers are actually who they say they are.


KYC Verification

  • Banks and NBFCs have the foremost risk of deceit and unethical falsification. Companies dealing with loans and other monetary transactional services need to recognize and know their customers in a much improved way.

  • Know Your Customer or KYC deals with this aspect of financial transaction. Bank or NBFC customers are required to avoid menaces such as loan defaults or cheatings. Due to this reason, customer’s identity and address are verified by Banks and NBFCs for banking services through the help of proficient and expert Background Verification Companies.

  • A comprehensive verification of the customer is performed whenever there is any loan or financial lending services involved. All the necessary data provided by the customers are thoroughly verified and authenticated. Banks and NBFCs to a great extent, are exposed to the threats of financial and cybercrimes conducted by their employees and hence, Employee Verification is also a crucial aspect of their verification routine.