Video KYC or video identification is an online method of face-to-face identity verification in which organizations carry out their customer verification process through a video call assisted by a KYC agent. During the video call, the customer is required to digitally submit the identity documents for proof.
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Video KYC or video identification is an online method of face-to-face identity verification in which organizations carry out their customer verification process through a video call assisted by a KYC agent. During the video call, the customer is required to digitally submit the identity documents for proof.
Know your customer (KYC) is generally defined as the process to confirm the identity of the customer and identify any possible associated risk with the customer. To comply with KYC/AML regulations is obligatory for banks, financial institutions, and every other business dealing with money. Traditionally organizations have a manual customer identification program (CIP) in place to verify customer identity at the time of onboarding. This process could take up to weeks, enforcing customers to abandon the process in the middle.
The video customer identification process is the digital version of the traditional KYC process, just more secure, quick, and cost-effective. Video KYC eliminates the paperwork streamlining the whole verification process with real-time results. Customers don’t need to physically visit the company and submit their identity documents to open their accounts. From registration to onboarding everything is done remotely.
Our Digital KYC product enables instant verification with the power of AI, ML, and deep search algorithms ensuring the fastest onboarding process for your customers, reduced operational costs, and helping your organization scale up at speed. Our Digital KYC comes with customizable workflows so you can create your industry-specific KYC journeys. Our Digital KYC product is data-security compliant and ensures complete adherence to the latest RBI guidelines.
- Reduced costs, customizable workflows, compliant process.
- Reduced customer application dropout rates with digital KYC.
- Accurate face match percentage, liveness detection to catch identity frauds.
- Increased customer reach in remote areas.