What is Perpetual KYC (pKYC)?

Kyc Aml Guide23 Nov, 2023Finance

The regulatory landscape of KYC (Know Your Customer) is becoming increasingly stringent in response to the prevailing threat of financial crimes. Dr Henry Balani, Head of the Global Industry & Regulatory Affairs advocates the implementation of dynamic & automated KYC process. Manual KYC is nearly outdated in many aspects such as the use requirement of larger resources & time, To mitigate this banks and FIs need to accelerate their digitization especially for KYC to tackle global financial crimes.