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The policy leaders assert that Treasury action on this important topic would “help to advance the state of digital identity in financial services, as well as help to address threats to both consumers and the financial services sector caused by inadequate identity solutions.”
eKYC or electronic know-your-customer refers to the use of digital technologies to verify the identity of a customer remotely. This process serves the same purpose as a traditional KYC protocol: to prevent fraud and identitytheft while ensuring compliance with regulatory requirements.
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