By Danny Bradbury

Move over fintech: Startups using technology to solve compliance challenges for heavily-regulated financial services firms are on the rise. And one area generating interest among entrepreneurs is automation of the time-consuming process of verifying clients for banks and payment companies.

Banks invest a lot of time and effort to prove their clients really are who they say, and that they are not tied to criminal or terrorist organizations. The “know your client,” or KYC, process is a crucial part of the anti-money laundering, or AML, practices all banks must follow.

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