Financial institutions should handhold customers through KYC process

There is an effort to simplify the KYC process to make it more ‘risk-based’, instead of one-size-fits-all, and amenable to digital needs. KYC has faced challenges over the years, but it’s needed to safeguard financial institutions and their customers. Ganesh Ram, MD and CEO of MF Utilities, tells All Indians Matter how India can deal with the challenges.