{"id":37827,"date":"2022-09-15T13:54:55","date_gmt":"2022-09-15T12:54:55","guid":{"rendered":"https:\/\/www.elixirr.com\/?p=37827"},"modified":"2025-10-30T14:41:03","modified_gmt":"2025-10-30T14:41:03","slug":"know-your-customer-ux-the-good-the-bad-and-the-ugly","status":"publish","type":"post","link":"https:\/\/www.elixirr.com\/en-us\/know-your-customer-ux-the-good-the-bad-and-the-ugly\/","title":{"rendered":"Know Your Customer UX: the good, the bad and the ugly"},"content":{"rendered":"\n

This month we\u2019re exploring Know Your Customer (KYC) solutions within banking. But first things first, what does KYC actually<\/em> mean? KYC is the process for verifying a potential customer’s identity when setting up an account using relevant information and documentation. Having optimum KYC capabilities allows banks to build a more complete understanding of customers and make more informed decisions in a bid to limit risk and security issues.<\/p>\n\n\n\n

KYC is vital for banks, and the uptick in digital banking, products and services means a simple and efficient customer onboarding experience is essential. Yes, banks must limit their risk and exposure, but customers don\u2019t want to waste time during the sign-up process. KYC needs to be both rigorous for the banks and efficient for the user. So, with that in mind, let\u2019s explore which KYC provider is good, which is bad and lastly, which is ugly.<\/p>\n\n\n\n

UX criteria<\/h2>\n\n\n\n

Before we jump in, let\u2019s first recap: what do \u2018the good, the bad and the ugly\u2019 mean?<\/p>\n\n\n\n