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How eKYC is streamlining digital banking – an Asia-Pacific perspective

The eKYC imperative: Fraud detection + conversions
 

Digital identity verification

The launch of virtual banks across Asia-Pacific is disrupting the traditional banking model. Meanwhile, financial institutions must comply with stringent Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations that typically send new customers out of their preferred (digital) channel for identity verification.

For established banks and up-and-coming digital banks, it’s become a business imperative to streamline the digital onboarding experience and dramatically cut abandonment rates.

In this in-depth guide, we detail the current state of digital banking in Asia-Pacific and offer a best practice approach to streamline the identity verification/eKYC experience while keeping fraud at bay.

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