The Progressive Advancement Of Remote KYC Technologies and Their Influence On Fraud

An Analysis Of The Technological Aspects.

Given the growing digitalization of everyday life, one of the most striking trends in recent years, has definitely been the advent of remote KYC technologies. In the past, KYC processes had to be carried out face to face, requiring an in-person meeting and the handing over of physical identity documents. However, with the advent of mobile banking and digital financial services accompanied by extended need for verification, RKY solutions became a necessity.

In this article, I discuss the evolution of RKY technologies and the types of crime that have developed with them, as well as the , solutions that we have worked on to overcome these problems quite lately. The objective is to take a close look at how these technologies developed as well as the pre-existing technology to counteract fraud during transactions.

The progress of KYC Technologies

The first approach on how to carry out Know Your Customer in digital realms emphasized on the basic understanding of a person without steps as extreme as using their photographs giving documents such as driving licenses, passports, and even utility bills. Stages came about whee such solutions as the above were rendered…