In a world where we unlock phones with our facial features and open bank accounts in minutes, identity verification has become more digital and vital than ever. The evolution of Know Your Customer (KYC) processes into seamless, tech-driven eKYC reflects a broader shift: security, speed, and inclusivity at the heart of digital transformation.

The rise of neobanks represents a significant disruption in the traditional banking model, driven by several factors such as technological advancements, consumer trust and preferences, market demand, cost efficiency, and global expansion. Despite facing challenges such as building trust and navigating regulatory landscapes, neobanks are driving competition, prompting traditional banks to enhance their digital offerings.