KYC sets legal requirements in banking to verify customers’ identity. Financial institutions must understand the risk customers pose and monitor their transactions. The requirements are intended to help prevent money laundering and other financial crimes. Know Your Customer (KYC) requirements for banks call for strong identity verification, due diligence and financial monitoring. Intelligent KYC systems help banks meet compliance requirements while smoothly onboarding customers. They simplify integration with other tools to assist numerous operations. In that sense, KYC can help drive growth and innovation across an organization.