Many commercial and social activities have shifted to the internet, and consumers are utilizing their mobile devices replacing numerous physical touchpoints with digital alternatives. One of the most recent innovations is a digitally aided KYC process, which enables businesses in streamlining the process.
Several firms have adopted KYC (Know Your Customer) as a goal to identify their customers and prevent potential risks in the absence of formal identification verification. Mobile Network Operators (MNOs) share the same goals of meeting the requirements of their digitally savvy users. To be competitive, telecom service providers must carve out a niche in the market and develop a system that offers a completely digital experience.
Telecom is one of those industries where identity verification has grown immensely to undertake client onboarding, reduce fraud, and increase customer engagement. The increasing trend in sim frauds has called for the need to implement stringent process like the KYC.
As a result, Digital Onboarding and Digital Identification and Authentication processes are critical for Mobile Network Operators since they enable them to provide the fully digitized experiences that their customers demand. Electronic Documents Centre (EDC) empowers businesses with a one-of-a-kind solution for swiftly validating client information with the ICA database, as per the regulations of the Federal Authority for Identification and Citizenship (ICA).