By Bentley Kapoor (India)
CoinDCX India
The Indian cryptocurrency exchange CoinDCX is going to make its Know Your Customer (KYC) process digitally automated. For this purpose, the India-based exchange has formed a partnership with Onfido, the identity verification and authentication technology company that helps businesses and exchanges all around the whole world to verify the identities of people.
As per the partnership agreement, Onfido will help the CoinDCX exchange to process its KYC regulations quickly. The technology of Onfido utilizes Artificial Intelligence (AI) to make sure that users are identified swiftly and in a secure way.
Automated KYC will make the onboarding procedure faster
Currently in India, it usually takes up to five days to clear a KYC onboarding process. However, the CoinDCX exchange has been performing its KYC regulations and verifications within the duration of 24 hours. But the crypto exchange wants to make this process faster therefore it is going for the automation of the KYC process by collaborating with Onfido.
Also read:The full automation of the KYC process will make the KYC onboarding procedure faster than before. In the presence of a digitally automated KYC, the crypto exchange will be able to onboard its users in just five minutes and it won’t have to compromise on its security.
The Co-founder and CEO at CoinDCX, Sumit Gupta says that by utilizing the cutting-edge technology of Onfido, the company can provide users a high level of fraud protection and can increase their compliance and security level. CoinDCX CEO said:
“By integrating Onfido’s technology we can not only simplify the KYC experience for users but also give our users peace of mind by providing the highest level of fraud protection. Onfido’s cutting edge and next-generation technology will enhance CoinDCX’s compliance, safety, security, and performance, as it has with so many other companies in the past.”
Husayn Kassai, the CEO and Co-founder at Onfido, considers CoinDCX an innovative crypto exchange and is proud of becoming its partner.
CoinDCX pays special attention to Know Your Customer verification because it helps the company to ensure the safety of its users and to prevent fraud.
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