Hanoi (VNS/VNA) – The banking sector is waiting for the State Bank of Vietnam to allow the use of electronic know your customer/client (e-KYC). TPBank was chosen to trial it in January last year. According to LegalDesk Website, KYC or Know Your Customer is a process an institution employs for customer identification. The Securities Exchange Control board of India (SEBI) laid down that any institute that deals with financial transactions or functions as financial intermediaries needs to verify their customer’s identity under the Prevention of Money Laundering Act, 2002. With banks and mutual funds instituting the KYC process for all its customers, it did help with preventing money fraud and identifying suspicious transaction activity of an account holder. KYC is a one-time process that is mandatory for all people of Indian nationality. eKYC is the process of an institution getting acquainted with their customer, though electronically. The main objective of electronic KYC is to reduce the use of physical paperwork, storage space for such records and the cost and time taken for the same. eKYC permits filing to happen in real-time. This has made the process streamlined and less prone to corruption in industries such as banking, finance, telecom, etc. whereby… Read full this story
- Global Finance Awards-Best Mobile Banking For eBSEG CEEP Omni Channel Digital Banking Platform in Credit Agricole Egypt
- Digital Banking Market 2019 Global Industry – Key Players, Size, Trends, Opportunities, Growth Analysis & Forecast 2022
- Hard work to make Cleveland lead safe is aided by a referendum threat
- Ask the Lawyer: What are my options when items are missing from my bank safe deposit box?
- For LR's schools, '19 testing holds key
- For Little Rock's schools, '19 testing holds key; exit from state control at stake
- If you gotta go, make it quick, safe
- DRIVETIME MAHATMA: If you gotta go, make it quick, safe
- Marketify says that Diversity in Services is the key to Digital Marketing Success
- Michigan's Charles Matthews holds key to NCAA tournament run
Client ID holds key to making digital banking safe have 321 words, post on en.vietnamplus.vn at October 7, 2019. This is cached page on VietMaz. If you want remove this page, please contact us.