A booming KYC industry poses data privacy risk
- Why consumer data protection is a grey area in the booming digital KYC industry.
NEW DELHI : Around 2017-2018, when popular card fintech Slice started as a student-only lending platform, it would pay its interns ₹200 for each KYC (know-your-customer) verification, recalls a former Slice official. That involved visiting a potential new customer, getting her signature on documents and even taking a picture. Today, that seems like a quaintly analogue way of doing things, given the boom in digital KYC verification.