KYC Summary

How does KYC work?

KYC (Know Your Contact in PRIV.DRM)  is a significant element in establishing customers’ identities and understanding the nature of their activities. 

Completing KYC validation incorporates a few key elements:

  •  Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) via information collection.
  • Document verification with adaptable security levels.
  • Customer risk assessment through the review of watchlists.
Once a user signs off the KYC validation for a client a KYC Summary document is generated immediately.

What is a kyc summary?

KYC summary is a PDF document that is generated immediately whenever a client’s KYC is validated, the document is found under the documents section and contains:

  • Document Set that the client has provided to confirm their identity.
  • Matrics containing all the client’s details that have been logged.
  • Signature verification and identification of the user who validated KYC.
  • Timestamp indicating when the summary was generated.

Why is kyc summary indispensable?

KYC summary improves traceability and transparency, prevents liability, and makes keeping track of key information on PrivDRM simple and efficient.

Line chart of the compliance history evolution
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Compliance Score History

Meeting KYC (Know Your Customer) obligations plays a crucial role in building trust with clients. The better you know your customers, the more compliance score

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KYC Summary

How does KYC work? KYC (Know Your Contact in PRIV.DRM)  is a significant element in establishing customers’ identities and understanding the nature of their activities. 

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Document Management in PrivDRM

Documents in Privdrm? Know Your Client (KYC) procedures are a critical function in establishing customers’ identities and understanding the nature of their activities. In PrivDRM, we implemented

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Descriptor Groups

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