Digital KYC App, ‘KYZO’ launched

FRSLABS, a fintech start up has launched a digital KYC ( Know Your Customer) App- ‘ KYZO’ which used OCR and computer vision technology to digitize customer identification documents.

A communiqué from the company claims that for end consumers, KYZO provides a quick and easy way to scan and save their documents in their mobile devices. “The scanning and face capture technologies work offline without the need for internet connectivity. The data is encrypted and is totally safe to use,’’ the company claimed.

The CEO of company Shankar said, “KYC is an indispensable part opening a bank account, obtaining a SIM, renting a car, or boarding a delivery partner to your business.

However, current KYC processes are time consuming, overly intrusive