Welcome to the 1st edition of IDfy’s KYC & Fraud Mitigation Newsletter.
“Beware of third party apps asking you to update your KYC details. We never do that.” – my bank, every other day.
This may come across as a routine message to most users. But as providers of financial services, we know there’s more to it than a simple alert.
This is how fraudsters gain access to genuine customer data and open fake accounts. Sooner than later, the implications – bad reputation, mule accounts, ghost loans – start showing.
But your business still needs to grow. You still need to hit your onboarding targets.
So how do you balance the act? All while navigating the complexities of compliance norms and providing a frictionless customer experience.
Allow me to introduce myself. My name is Vishal, a part of the financial services team at IDfy.
Life at the intersection of KYC compliance, risk management, customer experience and business growth is tough.
That’s why I’m bringing to you ‘The Intersector’. A crisp, once-a-month newsletter that aims to center you on all the 4 fronts mentioned above.
We know how you’re inundated with email already.
But we have taken the liberty to add you to this newsletter, as we’ve interacted with you before. In case you feel you do not wish to be included, you can unsubscribe via the link at the bottom at any time.