What Is Open Banking And How It Would Affect Banking In India
The legendary former president of the United States of America once referred to banks as the master of all the country’s progress and industry and rightly so. Today, there is not even a single reasonable individual out there who would
5 things you must consider before you choose a V-CIP provider
RBI's recent announcement allowed entities registered with it to use Video-based customer KYC (V-CIP)solution. That meant instead of sending agents to the customer's address, now REs could verify the customer's identity remotely via a recorded video call. RBI defined how V-CIP
A helpful guide to how eNACH works and how you can register for it?
About 3 people in 100 have credit cards in India, while there are 930 million debit cards and 1.57 billion bank accounts that are about 80 percent of the total population, that’s the data from January 2019. Why is this important? Because
7 things you should Know about the Video-Based Customer Identification Process(VCIP): Video KYC
With the recent amendment in the Prevention of Money Laundering Act, 2002 (PMLA), the Ministry of Finance now allows different ways to capture client’s details electronically; Digital KYC. We have tried to explain the amendment in our post here. In
Everything you should know about RBI’s circular on Video based Customer Identification Process (V-CIP/Video KYC)
Supreme court's judgement on Aadhaar and its use by private organizations all but pushed the BFSI sector back to its legacy processes of manual verification. Some sectors saw as much as 40% downturn in the new customer acquisition when compared
RBI allows use of Video KYC to verify Customers
RBI recently released a new circular with respect to the use of Offline Aadhaar and Video-based KYC to verify the identity of the customer. AS per the new amendment regulated entities are now allowed to used Video-based KYC or Offline
Fraud in banking sector and how Video KYC uses AI to help?
2018, saw $1.5 billion lost due to fraudulent incidents in the world. With over 500,000 identity theft-related frauds being reported, combined with a bulk of unreported incidents ID theft is one of the top 3 types of fraud affecting the
A summary – The State of Aadhaar Report
Dalberg along with Omidyar network India recently did human-centered design-based research on how Aadhaar is being received and used by the masses. You can access the actual report here. In this post, we try to summarize what we learned from the
How gaming companies use digital identity?
When you hear about "Digital identity" or KYC, you in all probability are thinking about banks and loans. KYC is something that you hear from banks or loan agents all the time and well, we do talk about these a
What is the difference between digital signature and eSign?
Digital Signature schemes were first defined in 1984, while the first commercial product came in to being in 1989. It's been more than 30 years since digital signature has been available for use in various formats. Though most people tend