Enhancing KYC Efficiency and Accuracy Through Session Recording and Document Auto-Capture

Know Your Customer (KYC) compliance is a critical requirement for financial institutions to prevent financial crimes and adhere to regulatory standards. However, the manual KYC process can be time-consuming and costly. In recent years, the adoption of digital KYC techniques has shown promise in streamlining the KYC process and reducing costs. In this project, we examine the impact of session recording and document auto-capture on KYC. Our findings suggest that these technologies can significantly reduce the time and effort required for KYC compliance, leading to a decrease in costs for financial institutions. Additionally, we talk about the possible downsides and inadequacies of these technologies and make suggestions for additional studies in this field. Overall, this paper highlights the importance of leveraging emerging technologies to optimize KYC compliance processes and improve efficiency in the financial sector.