E-KYC

Electronic Know Your Customer

Simplify your auditing and financial transactions with effortless precision and ease.

Thailand adheres to established standards for identity verification known as e-KYC (Electronic Know Your Customer). This process, a form of Digital Onboarding, ensures the secure facilitation of online transactions. These standards are defined by the Electronic Transactions Development Agency (ETDA), which has adopted guidelines aligning with Special Publication 800-63A – Digital Identity Guidelines – Enrollment and Identity Proofing, as outlined by the National Institute of Standards and Technology (NIST). This framework is employed to comply with international standards and uphold the regulations of the Personal Data Protection Act (PDPA) in Thailand.

How it works?

E-KYC isn’t just knowing who your customer is, but it is getting their consent and verifying their intention to proceed with the activity

1 Personal Identifiable Information

2 Biometric Reference

3 Consent and intent

Deep Dive into

E-KYC

Electronic Know Your Customer

What's E-KYC?

When developing an electronic Know Your Customer (e-KYC) system, strict adherence to international verification standards is crucial. E-KYC, considered the most secure among these standards, plays a pivotal role in preventing identity theft and closely monitoring financial transactions. This is particularly vital due to the sophisticated capabilities of cybercriminals exploiting vulnerabilities. E-KYC’s identity verification significantly complicates malicious actions, with two key components: the Identity Assurance Level (IAL) and the Authenticator Assurance Level (AAL), determining reliability and authenticity in the verification process, respectively.

E-KYC benefits

1. Efficient Transactions: E-KYC integrates identity verification, enhancing efficiency and security.

2. Crucial Fraud Prevention: E-KYC is vital in preventing fraud amid digital threats.

3. Speedy Processes: Reduces verification time to under 10 minutes, streamlining onboarding.

4. Remote Convenience: Customers can verify their identity remotely, improving the experience.

5. Cost Savings: E-KYC eliminates paperwork, manual entry, and in-person verification, saving costs.

View Features

Features

E-KYC

Electronic Know Your Customer

Personal Identity
Enhanced Efficiency in Financial Transactions: By seamlessly integrating identity verification into financial processes, e-KYC improves the efficiency and security of customer transactions.
Reduce Time
Swift Efficiency and Speed: Reducing verification time to under 10 minutes, e-KYC streamlines processes that traditionally took 1-2 hours, contributing to a faster and more responsive onboarding experience.
Reduce Cost
Cost-Effective Operations: E-KYC eliminates physical paperwork, manual data entry, and the necessity for in-person verification, leading to substantial cost savings for businesses.
Easy Steps
Users do not need to have extensive technical knowledge. They can easily follow the steps. Customers can have a good experience when requesting services.
Ownership ID
Helps specify an ID that is privacy-protected and resistant to tampering.

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ISO/IEC 29110

Conforming to ISO/IEC 29110 standards for Software Project Management and Software Implementation Process, software development standards can be adapted to tailor the system format to the diverse requirements of businesses. It is possible to selectively incorporate specific functionalities from the entire system or customize, modify, reduce, and introduce additional steps to align with the unique needs of the end-user.

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