KYC

“Unlike in the U.S., where you can get everything as a service, At every layer of the stack. In many other markets, including Latin America, you just can't do that. There's no sort of, ah, fraud as a stack, KYC as a stack. So you end up having to build everythi…”

“When you have KYC for free, you can KYC a lead versus the customer. So you start to have risk orientation up in your funnel and that changes who you even target.”

“There's really only three building blocks that you need. So you have the compliance documents, the standard operating procedure, so what the company deems As necessary to verify at the onboarding level or at any other parts of the life cycle of that entity. On…”

“All those, like, sort of simple logistical things, I think, are accelerated by AI, just as, like, a consequence of AI being an accelerating technology.”

“And then it suddenly became regulated where you had to almost have a full KYC flow like a bank. And that just meant that the conversion rate dropped from let's say a hundred percent to like two percent.”

“We said, I want, we had like a team of 20 people working on KYC. And we said for the next three months, we want 500.”

“In many public sector banks, the KYC situation is so bad. That if they went down the same route, they would have to shut down the public sector bank tomorrow.”

“When you are opening an account on Stripe, you need to go through what we call a QIC, know your customer. So basically, you need to upload all your paperwork about the company. But at this point, you didn't start to do the integration. So what you can do in th…”

“Up to 50,000 rupees digital gold doesn't require KYC.”

“The challenge is, if you go into the realm of money, and you say, you know what, KYC. Know your customer laws. AML. Anti-money laundering laws. Those are stupid and antiquated. We're not going to follow those. You go to jail. So the consequences are much, much…”