How Video KYC will help Banks and Financial institutions
What’s the first step that a customer has to take when he wants to avail any service from a Bank or a Financial institution? It is the Know Your Customer (KYC) process. KYC is a process where a financial institution verifies
Ensuring business continuity through V-CIP
With social distancing as the key preventive measure in the going global pandemic, expecting customers to come to the branches of RE’s, i.e. Banks, NBFCs, etc. seems out of the question. The biggest casualty of this situation would be the
A step by step guide for a Faster Customer Onboarding
According to a 2017 Forrester study covering 140 companies across the financial sector in the United States, 88% of the participants agree that the Onboarding experience has a strong influence on the lifetime value of customers. It is easy to see
5 ways of Simplifying Digital KYC
Every Indian financial institute which comes under the purview of the Reserve Bank of India (RBI) is mandated to carry out a Customer Due Diligence procedure before onboarding an entity. The RBI has also issued clear guidelines in the form
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
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
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
How to automate KYC while being compliant with RBI guidelines?
If you are a part, have been a part of the banking and payments sector then you know what I mean when I say RBI and its regulations dictate everything that happens there. Right from how customers need to be