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Know Your Customer (KYC) is the “process of a business identifying and verifying the identity of its clients”. KYC solutions are also used by banks and companies to ensure anti-corruption compliance and to confirm the identity of customers, agents or distributors. What is KYC and why is it important? In India,
Caution: Plot Spoilers Ahead “I’m deadly serious. This chain of recommendations is the best.” When Choi Yeon-gyo, a major character in the movie, makes this statement in reference to four new employees she has hired, she has no idea of what’s to come. Parasite, the South Korean, dark comedy thriller
In modern times, an identity check involves digitally verifying a candidate’s Name, Date of Birth, Address, Nationality etc. This involves the support of multiple technologies in order to counter fraud, comply with regulations and reduce manual effort involved in physical verification. Involving technologies like Optical Character Recognition (OCR), Image rectification,
The sharing economy is increasingly disrupting the business landscape. A PwC survey [1] estimates the global sharing economy market to increase to around 335 billion dollars by 2025. With immense growth potential and numerous successful business models already setting examples, the sharing economy is all set to revolutionise our lives.
The growth of the sharing economy is imperative. It’s evident in numbers ($15 billion in 2014 to $335 billion projected for 2025*) (Source:Forbes) and in the growing belief in owning less and sharing more. Moreover, technology has gone mainstream to enable platforms that make sharing economy such a hit. It’ll be hard to
Technology today is all pervasive. It is difficult to think of many moments in our day, professional or personal, when technology is not aiding us in accomplishing the things we want. Take cabs. Technology has made finding a cab to reach your destination amazingly simple. For years I have been
Pre-employment background screening has been a time-consuming process traditionally. On an average, about 20 days are needed to verify an employee’s background information. This long a time duration is critical for employee dropout; organisations that have a high turnover rate find it difficult to carry out pre-employment screening. This is
According to an Allied Market Research, the global self-service technology market will cross $31 billion by 2020, representing an annual growth rate of almost 14%. This number is indicative of the importance of service industry today. More than 4.8 billion dollars have been invested in the on-demand industry and well, and
Instantaneity is the prime driver of the on-demand economy. But, even as startups and established business are consumed by the need for speed, they are becoming increasingly aware of the risk to their reputation because of the antecedents of the people critical for the driving of the on-demand economy – among others,
Automation is the new sound in town to simplify business processes across industries. Technology has granted an opportunity to put a different perspective to things relating to employee background verification. It makes the entire process a lot safe
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The most noteworthy aspects of our collaboration has been the ability to seamlessly onboard partners from all corners of India, for which our TAT has been reduced from multiple weeks to a few hours now.
