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The payments industry is constantly evolving, and with this comes new opportunities for fraudsters. As we move towards a more digitalized world, where payments are made online and in real-time, fraudsters are finding new ways to exploit vulnerabilities in the system.
Know Your Customer, or KYC, is crucial to business. However, assessing the suitability of customers for a business relationship can be time-consuming and costly, particularly when conducting manual KYC. Fortunately, there is a solution. Verif-y provides automated KYC solutions to help businesses increase efficiency while reducing friction and unnecessary costs. Let’s take a closer look at the importance of KYC and why automated KYC is the best option for your organization.
