In the last few weeks, I’ve had to re-KYC 3 of my Fintech bank accounts, uploading PFP’s, driving licenses, declaring salary etc…
Yet, the last time I was asked to KYC with Barclays, my old bank account, was when I opened the account over 40 years ago. In fact, I don't think their app has an option to KYC me.
Yep I can relate to this personally. There is a clear strategy to 'roll' KYC requirements in perpetuity.
It's another angle to push into a digital ID requirement.
Those opting out of digital ID can expect constant KYC abuse until you give in to the digital future.
Fintech KYC is “always on” because the real product is your risk score and data exhaust. At Masters of The Lair we see re-KYC as dossier deepening, not ID check, which is grim for privacy.
