KYC (know your customer) is a vital part of getting important services such as getting an LPG line or buying an insurance policy. The main aim of conducting KYC is to verify the identity of clients and additionally examining the probabilities of any illegal wrongdoings. It also helps in preventing criminal activities like money laundering, bribery, fraud, black money etc. The main benefit of KYC is that it makes sure that all monetary ‘ ‘transactions are legitimate and transparent.

Statistics

  • 99% of the adult population has a digital identity in the country. (thalesgroup.com)
  • Eighty-nine percent of corporate customers have not had a good KYC experience – so much so that 13 percent have actually switched to another FI as a result. (trulioo.com)
  • There are numerous reasons why eKYC will prevail: The Thompson Reuters survey indicates that 30% of respondents stated it takes over two months to onboard a new client, while 10% indicate it takes over four months. (trulioo.com)

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reviews"Great tool to expedite customer service"

The most helpful thing about Lightico is the fast turnaround time, The upside is that you are giving your customer an easy way to respond quickly and efficiently. Lightico has cut work and waiting time as you can send customer forms via text and get them back quickly, very convenient for both parties.

"Great Service and Product"

I love the fact that I can send or request documents from a customer and it is easy to get the documents back in a secured site via text message. Our company switched from Docusign to Lightico, as Lightico is easier and more convenient than Docusign, as the customer can choose between receiving a text message or an email.