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
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