SocialGood - Introducing eKYC as Part of Withdrawal Process

cryptonews.com:

Disclaimer: The text below is a press release that was not written by Cryptonews.com. 

The SocialGood App has reached 1.85 million users worldwide, and as the app continues to grow, The SocialGood Team has implemented an eKYC (Electronic Know Your Customer) process as part of their withdrawal procedure. This is due to the increased importance of compliance. The eKYC procedure is a very reliable system, similar to the ones introduced by major companies in the crypto industry. Users can verify their accounts in just 3 simple steps.

eKYC stands for Electronic Know Your Customer. It is a system used to identify and register users by gathering personal and professional information. It is an extension of the traditional KYC procedure. The main difference between KYC and eKYC is that eKYC can be processed online and is a much easier process for submitting documents and forms. 

The eKYC system was developed with the view of registering a new user without involving a load of paperwork and documentation. The system cuts costs and makes the client authentication process more transparent for banks and financial institutions. It makes it possible for people to submit essential documents and other information from the comfort of their own homes. KYC is the process of verifying a person’s identity by following a set of guidelines, most often used and implemented by banks and other institutions offering financial or legal services. Manually done, means going to an in-person meeting with a government issued photo identification document and supporting documents, like proof of address through a lease or utility bill. With technology, eKYC checks can be done in real time in a fully automated system that eliminates the need for manual