A KYC agent assists firms in carrying out their customer verification procedure using a video call during video KYC, also known as video identification or video KYC. The client is expected to digitally present their identification documents during the video conference as verification.
The process of confirming a customer's identity and locating any potential risks associated with that consumer is known as KYC. Banks, financial institutions, and every other company that deals with money must adhere to KYC/AML rules. In the past, firms used a manual customer identification program (CIP) to confirm the identity of new customers. Customers may have to stop the process in the middle because it might take weeks.
The video customer identification process is essentially a faster, more cost-efficient, and more secure version of the classic KYC process in the digital age. Video KYC does away with the paperwork, expediting the entire verification procedure and providing results in real time. Customers can open accounts online without going in person and submitting their identification papers. Everything is done remotely, from signing up to onboarding.
Our Digital KYC provides quick verification with the use of AI, ML, and deep search algorithms, guaranteeing that your clients are onboarded as soon as possible, cutting down on operating costs, and assisting your business in rapidly scaling up. You can design your industry-specific KYC journeys using the customized workflows provided by our Digital KYC. Our Digital KYC product complies with data security regulations and guarantees strict adherence to the most recent RBI regulations.
- Cost savings, adaptable workflows, and legal processes.
- Reduced application abandonment rates for customers using digital KYC.
- To stop identity fraud, use liveness detection and an accurate facial match percentage.
- Expanded customer reach in distant locations.
