Category: Technology

Improvising Customer Onboarding KYC With Blockchain Technology The goal of these regulations is to train fintech companies to guide customers through KYC and AML (Anti-Money Laundering) during the customer onboarding process. KYC blockchain requires customer identification documents in order to maintain reliable information about individual customers. This information can be asked anytime by the regulatory authorities for any particular customer or transaction. KYC was introduced in the year 2000 and in its early days, it was used as a form of identification for private financial customers. It was easy for the financial institutions to keep up the KYC practice, as they could check and verify the customer identification document before every transaction.