KYC! Know Your Customer
Know Your Customer is the most essential derivative for banks to comply with. Banks have to follow the vital procedures and guidelines of KYC to prevent themselves from the tyranny of bad guys. Effective KYC is one of the primary steps to be followed before stepping into building any relations with customers, and in order…
Do You Know About Customer Due Diligence?
Financial institutions are required to perform Customer Due Diligence (which involves various identity and background checks) to ensure whether the customers are who they claim to be. It is designed to help financial institutions and banks get a clear picture of the risk profiles their customers are associated with. CDD is the process of assessing…
