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Financial Institutions Adopt Video KYC to Streamline Compliance Processes
In the financial sector, major firms are creating new, emerging technologies to provide customers with cutting-edge tools that allow them to manage their financial resources online. Highly advanced verification processes such as video-based KYC can enhance the security of these new digital services.
During Video KYC, A KYC expert of the financial institution may authenticate a customer's identity or verify that other identity documents have been presented during the video call. A customer is having to present his or her government-issued identity documents to the company's representative after verifying credentials. Significant financial and other mobile wallet companies have begun setting up infrastructure for this verification system.
What do we refer to as Video KYC?
V-KYC is the process of verifying KYC throughout a video call. The KYC officer or bank official communicates with the customer to validate the identity of the documents, their signature, and facial recognition along with several other liveliness checks to establish authenticity. Based on the information collected and other factors, the officer or bank official decides whether to grant or decline the customer the request.
Article Source: videokyc.co.in/approach-to-revive-KYC-operations-for-the-...
Financial Institutions Adopt Video KYC to Streamline Compliance Processes
In the financial sector, major firms are creating new, emerging technologies to provide customers with cutting-edge tools that allow them to manage their financial resources online. Highly advanced verification processes such as video-based KYC can enhance the security of these new digital services.
During Video KYC, A KYC expert of the financial institution may authenticate a customer's identity or verify that other identity documents have been presented during the video call. A customer is having to present his or her government-issued identity documents to the company's representative after verifying credentials. Significant financial and other mobile wallet companies have begun setting up infrastructure for this verification system.
What do we refer to as Video KYC?
V-KYC is the process of verifying KYC throughout a video call. The KYC officer or bank official communicates with the customer to validate the identity of the documents, their signature, and facial recognition along with several other liveliness checks to establish authenticity. Based on the information collected and other factors, the officer or bank official decides whether to grant or decline the customer the request.
Article Source: videokyc.co.in/approach-to-revive-KYC-operations-for-the-...