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KYC Documentation

What is KYC Documentation?

Kyc documentation is the process of verifying the customer identity. 

Importance of KYC in MLM Business?

Why KYC documentation in mlm software? Cloud mlm software provides a kyc documentation module mainly to prevent fraud activities in mlm business. You know majority activities in mlm business are through online so some people join in the business with fake names and make money laundering,due to the large number of customers  the business owners couldn’t find these types of fraud peoples easily. 

Here is the importance of mlm software in mlm business. In mlm software we provide a kyc module that helps the business owners to prevent fraud activities. In kyc documentation the customer who joins the mlm business must upload their identity proof like votersID,Driving license etc to the owners and after the successful submission only the user can join in the business. And kyc documentation also helps the business owners to enquire about the history of joining customers if they have any financial burdens previously or not, based on that owners can serve them better.

Periodicity of KYC refresh 

Kyc documentation is provided not only at the new joining time but also for the refresh time. The Refreshment of members account is necessary for mlm business because there are so many members are there in business some of them are more active some of them are inactive. The business owners mainly need active members in their business so they give more priority to them and upgrade their level at the level of upgradation the user must provide KYC. And the existing members in the business want to create a new account also must provide fresh KYC based on the latest KYC policies.

KYC documents confirmation: 

Know your customers are processing where the company is enabled to know and verify their members and customers.Cloud MLM’s software developers understand the importance of privacy of these documents and using reliable, independent source data and information security for keeping a better privacy policy.

 

 

 

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