What is the difference between KYC and PKYC?
Hi all,
I am new here and do not know if this is the right place to ask the query or not, but i hope i will get a positive response, basically last night I was reading one article about KYC (Know Your Customer) and i read one term PKYC, I am a little bit of confused about these two terms (KYC and PKYC), can anyone please help me to understand these terms?
Thank You
KYC is a process used by financial institutions to verify the identity of their customers. PKYC is a similar process, but companies use it to verify the identity of their customers for a specific transaction.