What is the Potential Impact of KYC (Know Your Customer) Videos on the Fintech Sector?

Fintech or financial technology refers to the technology and innovation aimed at revamping the traditional methods being used in the financial industry. The share of investment dollars going into fintech has increased from 5% to nearly 20% in the last decade. The industry is further expected to grow at a compound annual growth rate of 6%, making it worth $26.5 trillion by 2022. As technology evolves, the customers demand quick and easy services from the online platforms which create loopholes in the operations for criminals to exploit.