e-KYC - Regulation Asia

Bangladesh Introduces e-KYC for All Financial Services Firms

All financial institutions regulated by Bangladesh Bank are expected to introduce e-KYC in compliance with the new guideline by December 2020.

January 14, 2020

681

AML / KYC

BNM Issues Draft Rules on Financial Sector Use of Electronic KYC

BNM recommends the use of AI, machine learning or other forms of predictive algorithms to ensure accurate identification and verification, and to automate decision-making in customer onboarding.

December 17, 2019

280

AML / KYC

SEBI Allows Intermediaries, Funds to Use Aadhaar for e-KYC

Intermediaries and mutual fund distributors are not allowed to store investors’ Aadhaar numbers “under any circumstances”.

November 8, 2019

594

AML / KYC

Bangladesh to Launch e-KYC for Bank Account Opening in January

Account opening in Bangladesh currently takes 3-7 days. Based on pilot testing in 33 districts, the new e-KYC system will reduce this to just 5 minutes.

October 31, 2019

479

AML / KYC

RBI Grants Another Extension for e-Wallet KYC Compliance

This is the fourth time the deadline has been extended. Wallet companies were first asked to complete KYC processes for each customer by December 2017.

September 3, 2019

857

AML / KYC

Philippines to Launch Digital Banking ID Registry This Year

The blockchain powered ID registry will enable electronic KYC and make it easier for clients to access banking services.

April 1, 2019

1.1K

AML / KYC

Bank of Ayudhya Uses Facial Recognition in Account Opening

Bank of Ayudhya has become the first bank in Thailand to introduce facial recognition in account opening, which it says will enhance security and prevent fraud and identity theft.

March 12, 2019