Complete your KYC @ Digital Rill

Importance and Benefits of KYC

To be mandated by the law, the Know Your Client (KYC) process also helps the institutions in several ways:

  • Helps lenders perform risk assessment by identifying the previous financial history and assets owned
  • Limits fraud that result mainly due to hiding of identity
  • Prevents money laundering and other anti-social activities
  • Brings stability and investment to the country, as it makes the financial framework more trustworthy and less risky
  • Decreased uncertainty allows institutions to lend more to customers and increase their profits