KYC (Know Your Customer) is a process used to identify and verify the identity of a customer. This process includes multiple checks to ensure that a customer is truly who they claim to be.

When you open a bank account, you have to fill in various types of information, scan your ID card, and have the bank officer compare your face with the photo on the document, etc. — this is a familiar example of the KYC process. During the COVID-19 pandemic, as human activities shifted from offline to online, the KYC process also moved online, which is called eKYC.

Using the example of opening a bank account, eKYC allows you to open an account without meeting the bank staff in person.

• Filling out paper forms -> filling out online forms (on the website or app).
• Handing your ID card to the bank staff for scanning -> using your phone or computer camera to take a photo of the ID card.
• Bank staff verify the match between the account holder’s face and the ID card -> record a short video and send it to the bank via website or app.

Recording and re-verifying this information, and then accepting and providing the corresponding services, depends on the policies and risk tolerance of each organization.

InnoTech has consulted and provided eKYC solutions for companies in securities, F&B, hospitality, hospitals, and logistics. InnoTech’s solutions are designed to be flexibly applied to each industry and each organization’s risk tolerance. Depending on their needs, businesses can implement eKYC partially, fully, or with additional internal verification processes, or completely automate the workflow.