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Re-KYC stands for Re-Know Your Customer. It's a periodic process where financial institutions update and verify the information they hold about their customers. eKYC Services are one of the crucial steps for businesses so that they can maintain accurate data of their customers. This helps them to comply with regulatory requirements, and prevent fraudulent activities. Additionally, eKYC plays an important role in ensuring that the information held by the financial institution is up-to-date and correct, which is essential to reduce fraud activities.
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