Gen AI could make KYC effectively useless

KYC, or “Know Your Customer,” is a process intended to help financial institutions, fintech startups and banks verify the identity of their customers. Not uncommonly, KYC authentication involves “ID images,” or cross-checked selfies used to confirm a person is who they say they are. Wise, Revolut and cryptocurrency platforms Gemini and LiteBit are among those […]

© 2023 TechCrunch. All rights reserved. For personal use only.

ai authentication banks confirm cryptocurrency customer customers effectively financial financial institutions fintech gemini gen gen ai generative ai identity images institutions know your customer kyc platforms process revolut security startups useless verify