Know Your Customer vs Identity and Access Management

Developers should learn KYC when building applications for financial services, fintech, banking, or any regulated industry where customer identity verification is required by law meets developers should learn iam when building applications that require user authentication, authorization, or compliance with security standards like gdpr, hipaa, or soc 2. Here's our take.

Know Your Customer

Nice Pick

Developers should learn KYC when building applications for financial services, fintech, banking, or any regulated industry where customer identity verification is required by law

Pros

• It is essential for implementing secure onboarding processes, compliance systems, and risk management tools
• Related to: anti-money-laundering, regulatory-compliance

Cons

• Specific tradeoffs depend on your use case

Identity and Access Management

Developers should learn IAM when building applications that require user authentication, authorization, or compliance with security standards like GDPR, HIPAA, or SOC 2

Pros

• It is essential for implementing secure login systems, role-based access control (RBAC), multi-factor authentication (MFA), and managing user permissions in cloud environments, enterprise software, or any system handling sensitive data
• Related to: authentication, authorization

Cons

• Specific tradeoffs depend on your use case

The Verdict

These tools serve different purposes. Know Your Customer is a methodology while Identity and Access Management is a concept. We picked Know Your Customer based on overall popularity, but your choice depends on what you're building.

The Bottom Line

Know Your Customer wins

Based on overall popularity. Know Your Customer is more widely used, but Identity and Access Management excels in its own space.