Financial Crime World

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Know Your Customer (KYC) Guidelines in Bhutan: Real-Time Solution for Financial Institutions

The Kingdom of Bhutan has taken significant steps to combat money laundering and terrorist financing, aligning with international standards set by the Financial Action Task Force (FATF). As a result, financial institutions in Bhutan are required to implement robust Know Your Customer (KYC) guidelines to ensure customer due diligence.

Shufti Pro’s Real-Time KYC Solutions

Shufti Pro, a leading identity verification service provider, offers real-time KYC solutions for Bhutanese banks and businesses. Their advanced technology enables seamless identification verification of customers through various documents, including:

  • National identity cards
  • Passports
  • Driving licenses
  • Credit/debit cards

Shufti Pro’s KYC Services

Shufti Pro’s KYC services include:

  • Document verification
  • Data extraction
  • Face verification
  • Verification status

These solutions are designed to meet the stringent KYC guidelines set by FATF, APG, and OFAC.

Benefits of Shufti Pro’s Identity Verification System

Shufti Pro’s identity verification system is a game-changer for financial institutions in Bhutan, enabling them to:

  • Onboard new customers quickly and securely
  • Ensure compliance with regulatory requirements
  • Verify customer identities down to the last pixel, detecting any attempts at fraud or tampering

Anti-Money Laundering (AML) Screening Services

Shufti Pro also offers AML screening services for Bhutanese businesses, helping them:

  • Identify high-risk clients
  • Improve client onboarding with faster PEP screening and real-time sanction list monitoring

These services utilize global watch lists and update source data every 15 minutes to ensure the highest level of accuracy.

Dzongkha Language Support

Shufti Pro’s OCR (Optical Character Recognition) feature for Dzongkha language has an impressive accuracy rate of 98.67%. This enables businesses operating in Bhutan to verify customer identities seamlessly, even if they are not familiar with the local language.

Industry-Specific Solutions

Shufti Pro’s solutions have been designed to cater to various industries, including:

  • Banks
  • E-commerce
  • E-payments
  • Ride-sharing
  • Online service providers

Their real-time KYC and AML solutions for Bhutan have been hailed as a major breakthrough in the fight against financial crime.

Get Started Today

To learn more about Shufti Pro’s KYC and AML solutions for Bhutan or to start your 7-day free trial, visit their website today.