## E-KYC: Digital Identity Verification Technology for the Digital Age

In a world where financial scams are increasing, identity verification becomes more important than ever. E-KYC (Electronic Know-Your-Customer) is a revolution in KYC, utilizing digital technology to assist in customer recognition processes. Unlike the traditional method requiring in-person visits to offices, e-KYC now allows you to complete the entire process via your mobile phone or computer.

## How E-KYC Differs from Traditional KYC

**Process Speed:** Traditional KYC takes a long time because you need to visit the office and wait for staff to verify documents. E-KYC can be completed within minutes.

**Documents and Convenience:** Old KYC systems require preparing copies of ID cards, passports, and multiple documents. E-KYC uses biometrics, facial scans, and digital systems instead.

**Accuracy and Security:** Paper documents can be forged or lost, but e-KYC employs encryption and multi-layer security systems, significantly reducing risks of fraud and data loss.

## Identity Verification Systems in E-KYC

Currently, e-KYC uses three main technologies:

**Biometric Authentication:** Uses biometric data as verification keys, such as fingerprints, eye scans, or facial recognition. This method is secure because no one can forge your biometric features, similar to phone or online banking authentication.

**Optical Character Recognition (OCR):** This technology scans documents and converts data into digital format. For example, ID cards, bank statements, or other registration documents can be processed instantly.

**National Digital ID (NDID):** A widely used system in Thailand involving facial scans and ID card verification through government databases.

## Information Required When Using E-KYC

For individuals, information such as ID card number, full name, date of birth, address, phone number, email, and facial scan are required. Companies or legal entities must provide company name, registration number, and office address. Additionally, there is an "authenticator," which is something only you possess, such as a password, ID card, or fingerprint, used to verify your identity.

## Benefits of Using E-KYC

**Time and Cost Savings:** No need to travel to offices or take leave to wait in queues. You can do it anytime and anywhere.

**Reduce Paper and Resources:** No printing or storing thick paper files. Everything is stored securely in the cloud.

**Accuracy and Reliability:** Automated systems reduce human errors. No issues with forged documents afterward.

**Widely Applicable:** Whether opening a bank account, investing, trading stocks, buying insurance, or even with government agencies, e-KYC is broadly accepted.

## Drawbacks of E-KYC

**Accessibility Challenges for the Elderly:** Older adults and students may find technology difficult, potentially leaving them outside the system.

**Risks of Forgetting Passwords or Technical Issues:** If you forget your password or your smartphone breaks, you cannot access the system until the issue is resolved.

**Privacy Concerns:** Some people worry about the storage of personal data, even though the system is secure.

## Conclusion

E-KYC clearly demonstrates how technology can make life easier, safer, and more convenient. The financial sector, banks, and government agencies in Thailand are adopting e-KYC for registration and identity verification to protect user data and reduce fraud. As the world moves into the digital era, adapting to the e-KYC system is inevitable.