Ideas to Action:

Independent research for global prosperity

CGD Policy Blogs

 

Identification programs in high-income countries and others, compared

Overcoming the “Know Your Customer” Hurdle with E-KYC

In our recent paper published by GSMA, we examined two approaches to conducting customer identification, verification, and due diligence (collectively referred to as “know your customer” or KYC) that make it easier for financial service providers to take on new customers: tiered KYC and electronic KYC (e-KYC). Of the two, e-KYC is the more promising long-term approach, but also the more challenging to implement.