KYC is the process of acquiring contextual information as structural or nonstructural data in the form of identity proof, residential or office address, photo, and other such details to know, identify & verify who the customers are against the identity proofs and documents submitted by them. CDD is an extension of KYC, verifying customer’s identities by performing background checks and assessing risks throughout the customer life cycle to prevent identity fraud and money laundering activities.
As part of the research “SPARK Matrix™: Know Your Customer (KYC), 2022” Quadrant Knowledge Solutions conducted an in-depth analysis of major know your customer (KYC) vendors by evaluating their products, market presence, and customer value proposition. Based on the analysis, the study provides competition analysis and ranking of the leading vendors in the form of SPARK Matrix. The evaluation is based on the primary research with expert interviews, analysis of use cases, and Quadrant’s internal analysis of the overall KYC market. The SPARK Matrix evaluation examined vendors including Acuant, Acuris Risk Intelligence, AML Partners, BAE Systems, Diligent (Steele), Equiniti, Fenergo, FICO, FinScan, Intellect Design Arena, Jumio, LexisNexis Risk Solutions (Accuity), NICE Actimize, Oracle, Pega, SAS, Signzy, and Silent Eight.
Quadrant Knowledge Solutions research analyzes market dynamics, growth opportunities, emerging technology trends, and the vendor ecosystem of the global market. This research provides strategic information for technology vendors to better understand the market supporting their growth strategies and for users to evaluate different vendor capability, competitive differentiation, and market position.
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