This is why Blockchain must be applied to KYC and Anti-Money Laundering Every organization loves to know who their customers are and how they can improve their services to provide them with better functionalities. Traditional KYC practices are rigorous and time-consuming. KYC on blockchain holds the potential to change the way banks and fintechs are undertake the KYC process.
Knowing who they are trading with is one of the most critical jobs for financial organizations nowadays. Banks and other financial institutions emphasize on KYC process as this process provides…