3.9 KYC (Know Your Customer)

There are services in sectors such as Finance, Insurance, Investments, Health care, Real Estate, Transport, etc. where KYC is mandatory. During the signup process, the biggest customer drop-off rate is reported at the KYC step. Human ID can be used to build a kind of SSO KYC system, saving users time and effort in retrieving legal documents and filling in the details.

Businesses spend effort and resources in verifying, validating details, and then maintaining that data in a compliant manner often leading to a significant lag before users can start using the services.

Both users and businesses benefit from an SSO KYC.