YULIBETH JOSEFINA PORTILLO ATENCIO - 15466XXX

Comprehensive Background check of Yulibeth Josefina Portillo Atencio - 15466XXX

Nationality Venezuelan
National citizen document 15466XXX
Voter Precinct 36700
Report Available

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What are the specific challenges that financial institutions in Bolivia face in terms of KYC for unbanked or low-income clients?

Financial institutions in Bolivia face specific challenges in terms of KYC for unbanked or low-income clients, including a lack of traditional identification documentation and limited ability to verify income and financial background. This can make the identity verification and risk assessment process more difficult for this segment of the population, which in turn can lead to involuntary exclusions from formal financial services. To address these challenges, financial institutions can adopt alternative identity verification approaches, such as using biometrics and digital authentication technologies, as well as implementing tailored risk models that consider socioeconomic and behavioral factors rather than just traditional financial data. . Additionally, collaboration with government agencies and civil society organizations can help develop innovative solutions and inclusive policies that facilitate unbanked and low-income customers' access to formal financial services while meeting KYC requirements and protecting privacy. integrity of the financial system in Bolivia.

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