KYC Automation for High-Volume Small-Value Transactions - Fintech Perspective
asked by u/taylor_m · 12h · 1 answers
Running a fintech platform that processes a high volume of small-value transactions daily, we're finding that our current KYC workflow, while robust for larger accounts, creates significant friction for micro-payments. We need to streamline the process without compromising our AML obligations. Are there any vendors or best practices for automated KYC/CDD that effectively balance regulatory compliance with user experience in this specific scenario? We're talking about a significant number of users, each making small transfers, where a full deep-dive verification on every single one isn't practical, but we still need to catch the red flags. What's working for others in similar positions?