Implementation of KYC Portal for an energy company

Changing from Manual to Digital Solutions for Customer Identification and Verification.

Updating industries with Digitization and advanced technologies

Our client is a global energy company headquartered in Singapore since 1997. They specialize in producing, distributing, and marketing petroleum products across 5 continents and 40+ countries. Their primary focus is on retail fuel and supplying energy products to industries such as mining, aviation, marine, and construction. With 3,000+ service stations worldwide, the company has invested in renewable energy and implemented sustainability initiatives to reduce its environmental impact. With a workforce of approximately 8,000 employees, customer satisfaction is their top priority.

Changing technologies and customer expectation

Businesses must constantly adapt to new technologies and trends if they want to keep up with constantly evolving technology. It should also ensure that its platforms are accessible, flexible, and scalable as per customers’ expectations.

Ensuring security and managing data

As sensitive data is increasingly stored and transmitted online, security has become a major concern for tech companies. Managing and analyzing the growing volume of data presents additional challenges.

Keeping pace with regulatory changes

The company needed to ensure that its platform is compliant with all relevant regulations and that it stays up-to-date with any changes. Challenges exist, but staying innovative, focused on customers, & nimble help them thrive.

Digitization of KYC process

The KYC process for customers is being digitized using technology to verify identity and collect relevant info. Manual KYC procedures are being replaced by digital solutions for a more efficient and streamlined approach.

Understanding Digital KYC

Digital KYC solutions use digital tools like biometric identification, online forms, and digital signatures to remotely verify customers' identity and collect relevant information. Technologies like facial recognition, document scanning, and artificial intelligence enable faster processing times and reduce the risk of errors or fraud.

Beneficial to customers and businesses

Digital KYC solutions offer several benefits to customers with faster and more convenient identity verification. Businesses benefit from reduced costs, improved efficiency, enhanced security, and compliance with regulatory requirements. It’s an effective approach for risk management and identity verification.

Our esteemed client faced several challenges in the fast-paced and constantly evolving world of information technology, like staying up-to-date with emerging technologies & meeting changing customer expectations, regarding security and data etc. They hired Tridhya Tech, A leading software company that provides a platform for building and deploying enterprise-level websites, portals, and intranets. We addressed these challenges through the digitalization of the customer KYC process. To implement this solution, technologies such as DXP 7.3, PostgreSQL, and Azure VMs have been used. By embracing innovation, our esteemed client can continue to thrive in the constantly evolving world of information technology.