On Wednesday (22/7), PrivyID’s CEO, Marshall Pribadi, was invited to be the speaker for the Legal Workshop organized by Loophole Academy to talk about The Role and Function of e-KYC For Companies.
Marshall Pribadi opened the workshop by explaining how today, the face-to-face method is beginning to be replaced by technological innovation. In the digital era, many companies have started to adopt Liveness Detection and Face Recognition technology in their business, especially in financial businesses such as financial technology/banks. The technology is commonly used for the Know Your Customer (KYC) process.
In the financial services business, we are quite familiar with the term KYC. KYC itself is a principle adopted in the banking sector to verify customers. However, now the KYC principle has begun to be applied digitally or also called e-KYC. PrivyID as a digital signature service provider has been trusted by the Financial Services Authority (OJK) as an e-KYC digital financial innovation cluster, which can help financial services to implement KYC principles through digital signatures.
Marshall Pribadi conveyed that in the e-KYC process with PrivyID, the customer’s personal data is protected. Because PrivyID is ISO 27001 certified. He also said that “Employees at PrivyID also do not have access to documents uploaded by users, because PrivyID uses transparent encryption to maintain document security.”
“E-KYC digital signature is something that is inevitable. In today’s economy, which initially transactions are done physically or face to face, will inevitably change to digital,” Marshall concluded.