AUTOMATION OF THE KNOW YOUR CUSTOMER PROCESS THROUGH THE MOBILE APPLICATION

This paper explores the value of mobile applications and their impact over the Know Your Customer (KYC)* process, the way it could process different data and offer an output based on processed data. The research is focused on investigations, reports and statistics from different sources regarding relation between the Know Your Customer automation and mobile applications designed for it. Besides, the study also includes analysis of the ways how it is implemented in different countries, results of a proof of concept that could delegate part of the Know Your Customer job to the mobile side and the technology stack that was used for this purpose. The delegation part can provide significant costs reduction and increase the final revenue.