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“X” factor: why the KYC is not enough

“X” factor: why the KYC is not enough

KYC (Know Your Customer) is to know whether a customer is who they say they are. However, if you think your regulatory requirements will stop onboarding, think again.

KYC (Know Your Customer) is to know whether a customer is who they say they are. However, if you think your regulatory requirements will stop onboarding, think again.

Your company is responsible for preventing fraud and financial crime throughout the customer journey.

Traditionally, financial institutions verify a user’s identity, review the identity and support documentation, authenticate on the next visit, perform continuous screening to ensure they are not on the watchlist, and perform transactions. Needed more than 12 solutions to monitor, manage surveys and reports. Suspicious activity. This approach is complex, inefficient, costly — and often simply doesn’t work.

That’s why Jumio created the KYX platform. From onboarding to continuous monitoring, this is a single integrated solution that helps you know and trust your customers. We offer a suite of AI-powered solutions that help fight fraud and financial crime, respond to KYC / AML compliance, and build trust in the online ecosystem while providing a very simple user experience. ..

In this guide, you’ll learn how Jumio KYX solves compliance challenges throughout the customer’s life cycle.

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“X” factor: why the KYC is not enough

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