KYC Automation for Scale - Any 'gotchas' with smaller markets?

asked by u/rheadesai · 4d · 0 answers

We're looking to significantly scale our user onboarding over the next 12-18 months, primarily in LatAm and SE Asia. The plan is heavy on automated KYC/KYB solutions to handle the volume without ballooning the compliance team. My main concern, though, is around the efficacy and accuracy of these automated systems when dealing with what might be considered 'smaller' or less digitally mature markets compared to, say, Western Europe. Are there any common pitfalls folks have encountered with vendors that promise global coverage but then stumble when it comes to verifying documents or data from certain regions? Specific examples of a vendor performing well or poorly in such regions would be invaluable, even if it's just to confirm my nagging feeling that there's always a 'but' when it comes to promised seamless global onboarding. We want to be efficient, not expose ourselves to a host of new AML headaches down the line because a machine couldn't read a national ID card from a country it claimed to support.

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