Know Your Customer (KYC) as a service for Business Process Management (BPM) using Cloud Computing

Abstract

Business Process Management (BPM) is used in this article to explain the implementation of a know your customer process in the cloud servers.This assists in the identification of individuals working in banking and financial institutions, as well as the effective monitoring of unusual activity and transactions. Customer comprehensive research refers to the efforts that financial institutions and other regulated companies must undertake in order to identify their clients and get key information relevant to conducting business with them, as well as the banking rules that controls such operations.When applied to the organization, business process management (BPM) makes it possible to automate and manage end-to-end business operations by bringing all of the components of the process together into a more efficient whole, including people, resources, and tools. Numerous financial institutions can benefit from cloud computing by gaining access to a centralised service model that is made available through Software as a service(SaaS), Platform as a service(PaaS), and Infrastructure as a service(IaaS) services. Customer know-how was proved to be faster than human know-how during the execution of a plan of this complexity when compared to human know-how.