E-KYC – Electronic Know Your Customer processes and best practices
                     E-KYC – Electronic Know 
Your Customer processes 
and best practices
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E-kyc
• You must have heard about the eKYC concept where the process of identification and user 
registration digitally has eased things and made all the products and services available in the 
online sphere. Though it can be applied to many sectors it is more relevant in the finance and 
investment sector where keeping the process transparent and records safe is imperative. 
Financial institutions have raised the bar of security and concern by making the whole 
verification process digital.
• Adoption of Artificial Intelligence- AI and Machine Learning- ML in countless companies has 
brought the ease to digital transformation meeting the demands of current regulations and 
managing the tasks at ease by automating the process.
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How is this e-KYC process practiced?
• 1. Digital ID: It is one of the secured practices for an effective e-KYC system with government-
issued electronic identification. Government e-ID ensures the trust and the services including 
biometric verification, e-voting, and the new possibilities with traditional ID.
• 2. Video KYC: e-KYC also includes video KYC in which the customer identification process is 
done through video calls. Images can be used falsely so in this way video calling can be an 
effective method. If not video conferring then with proper lighting and with proper signal 
bandwidth a proper live video can be made checked by the experts reducing any chances of 
fraud.
• 3. Document verification: It is also one of the techniques in E-KYC. It is the process of 
recognizing the documents and performing the check on whether all are legal and correct or 
not. It is a process of validating and checking the identity with the help of technology.
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KYC to EKYC- Huge Digital Transformation
• All the financial institutions are facing 
drastic changes in the process of 
digitalization and bringing some relevant 
changes much needed in this sector. Every 
organization is thriving to make the process 
digital and enjoy seamless work. It is an 
effective method to avoid the falsification of 
identity, fraud signatures, etc. This 
paperless process minimizes the 
paperwork and made the digital process 
necessary for counterfeiting the crimes.
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