Decoding the Digital ID: The eKYC Chronicles
Electronic Know Your Customer (eKYC) is a digital process that verifies the identities of customers online. Similar to how you might show ID at a bank, eKYC allows businesses to confirm a customer’s identity electronically. This verification process helps ensure compliance with regulations and safeguards against fraud. By employing technologies like artificial intelligence and biometrics, eKYC systems are becoming increasingly sophisticated, making it more difficult for imposters to bypass security measures. However, the fight against fraud is an ongoing battle, as fraudsters continuously develop new tactics. The future of eKYC lies in continuous technological advancement and collaboration between businesses and regulatory bodies.
