Why we require KYC before you set up your account
KYC, or “Know Your Customer,” is a process of collecting and verifying personal information in order to confirm the identity of an individual.
The key information required in a KYC document will vary depending on the specific laws and regulations of the country or region in which the business operates, in our case, Nigeria. Furthermore, a KYC document typically includes several types of information.
Why is KYC required during account creation?
Setting up an account on BrandDrive requires collecting and verifying certain personal information in order to confirm the identity of the individual or organization. This process is known as KYC, which is a critical step in the onboarding process. What personal information is set up? Learn more.
This following is a detailed explanation as to is why BrandDrive requires KYC during onboarding:
KYC is also important for preventing fraud. By verifying personal information, BrandDrive confirms customers’ identity. This can prevent fraudsters from creating fake accounts and using them for illegal activities.
Improving customer experience
KYC can also improve the customer experience on BrandDrive. By collecting and verifying personal information, BrandDrive can ensure that customers are able to access their accounts and use the platform quickly and easily. This can help to build trust and loyalty with customers, which can lead to increased usage and revenue.
In conclusion, this is a critical step in the onboarding process that helps protect both the business and the customer. It ensures compliance with laws and regulations, prevents fraud, and improves the customer experience on BrandDrive. BrandDrive is committed to providing our users with the highest level of security and compliance, and this is a key part of our commitment.