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How do I choose a KYC provider?

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How do I choose a KYC provider?

Online KYC providers: how to choose yours

  1. Check the “supported countries” list, document and language coverage.
  2. Make sure the provider meets the national and local KYC standards.
  3. Find out whether the provider has a sandbox.
  4. Check data storage requirements (some countries like the UAE have data residency laws).

What companies are KYC?

Top KYC Companies

  • Crowdz. Private Company. Founded 2014.
  • ComplyAdvantage. Private Company. Founded 2014.
  • Sumsub. Private Company. Founded 2015.
  • kompany. Private Company. Founded 2012.
  • SynapseFI. Private Company. Founded 2014.
  • Passfort. Private Company. Founded 2015.
  • Alloy. Private Company. Founded 2015.
  • iProov. Private Company. Founded 2011.

What is KYC Blockchain?

Before you can start crypto trading, you’ll need to verify who you are. When you set up an account with a crypto exchange, you’ll typically be asked to go through the know-your-customer (KYC) process. This is a standard identity verification that major exchanges require for anyone who wants to trade crypto.

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Where does KYC store its data?

For storing the sensitive copies of documents, we use Amazon S3 storage. S3 provides comprehensive security and compliance capabilities that meet even the most stringent regulatory requirements. Physically, data is stored in Amazon’s European data cluster, which is located in Frankfurt, Germany.

How big is the KYC market?

Currently, the market for software and services related to KYC, AML, and PEP is around $5.6 billion. However, this is forecasted to grow to at least $12 billion by the year 2022, according to a study performed by OWI Labs.

Is KYC done for free?

Do I Need to Pay for KYC? No. KYC is FREE. You don’t have to pay any charges to the authorized Paytm Payments Bank representaives for KYC.