Cost of verifying

Cost of verifying
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First Published: Sun, May 30 2010. 09 53 PM IST
Updated: Sun, May 30 2010. 09 53 PM IST
The unique identity programme stands to cut costs for accounting firms, banks and other financial services companies is by slashing transaction costs, also known as the time and manpower it takes to verify potential clients who come equipped with voter registrations and other IDs with potential for fraud.
In order to verify new clients, these institutions are forced to go undergo a long process- banks call it know your customer- to validate identities and even claims of financial status.
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First Published: Sun, May 30 2010. 09 53 PM IST