Centralized KYC-Secure Platform
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- Create Date 15 March 2023
- Last Updated 15 March 2023
Centralized KYC-Secure Platform
Shantanu Gonaka, Shradha S. Sankhe, Suyash P. Satam, Sunil Katkar
Abstract- The KYC chain in the financial industry is crucial and necessitates stringent compliance as well as expensive manual labor. According to estimates, the global cost of KYC procedures has increased to $1.5 billion. Evaluating data and keeping tight tabs on them takes very little time and effort takes very little time and effort to evaluate data and keep tight tabs on them. Each financial service provider develops their own set of requirements for KYC documents under the present centralized approach. Users must comply with KYC standards with each institution and service provider they utilize as a result. Even if user information needs to be changed down the road, all financial institutions and service providers must be informed separately. Create a central KYC database that would be available to everyone.
Keywords— CNN (Convolutional Neural Network), SVM (Support Vector Machine), BERT, LSTM (long short-term memory networks), RNN (Recurrent Neural Network), ANN (Artificial Neural Network), DCNN (Deep Convolution Neural Network, MAML (Model-Agnostic Meta- Learning), GRU (Gated Recurrent Unit), BILSTM (Bidirectional Long Short-Term Memory)
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