what is this new thing risk based KYC? @nithin @MohammedFaisal @Bhuvan @mohitmehra
Its a KYC based on customer profile. Example a business income for an individual is riskier than salaried income. Or the risk appitite of a business man is more than a salaried person. The product suitable for business man may not suit a salaried class.
So assessing the risk of a customer profile based on such multiple factor is risk based KYC approach.
May i know where u heard it?
Will have to wait for more details. It’s just an announcement at the moment.
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