These KYC processes sometimes are rigorous because we have to do it freshly with each institution.
Reusable KYC appears to be the new trend which is aimed at making KYC verification easier and faster. How is this done?
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It involves the use of zero-knowledge proof of validity to establish trust between organizations. By verifying with a trusted provider, a credential showing that the user has done KYC is issued.
These credentials can be used across several organizations. These organizations will not see the personal information of the user but will see that the user has been verified.
It goes a long way in curbing the rate at which our data is shared with several organizations. It also promotes a good customer experience. https://leofinance.io/@joseph23/introduction-to-reusable-kyc