WHAT IS KYC?
KYC (Know your customer) is the process through which a business organization identifies and verifies the identity of its customers. Before certain services can be availed in India the customer needs to provide documentations such as identity and address proofs This customer identification process is known as “Know Your Customer” (KYC) and is prevalent among financial institutions and telcos.
Definitions, Abbreviation and Acronyms in KYC:-
The data flow of a typical KYC API call from left to right and back is as follows :-