The Importance of eKYC Services for Credit Unions in 2024
Abhishek Singh19 Sep, 2024Technology
eKYC, or electronic Know Your Customer, is a computerised technique for verifying the identities of individuals and corporations. This is a critical requirement for financial institutions, particularly credit unions, to comply with anti-money laundering (AML) and Know Your Customer (KYC) laws. Aadhaar eKYC is a digital approach to client verification that is transforming the way credit unions function by assuring compliance, increasing security, and improving member happiness. Let's look at the benefits and implementation of eKYC in credit unions using a systematic framework.
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