Worsening this exclusion are KYC and customer due diligence CDD processes and requirements that limit the concept of identity to key documents (such as ID, proof of address and passport), yet these are relatively inaccessible to the underbanked and unbanked. As processes and economic activities become more digitized, the importance of digital identities become more pronounced and paper-based physical identities become less desirable. Download this special report from AFI for more insights.
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