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Boston Consulting Group and Michael & Susan Dell Foundation recently released a report that paves the way for ‘Unlocking the Potential of the Gig Economy in India’ as the country recovers from the aftermath of COVID 19. The report reaffirms two things in a big way: The gig economy in
India is a land of talent. In recent years, the nation’s economic progress has been propelled by the availability of quality labour. As the nation records growth across multiple sectors, employees have become the backbone of brands, firms, and companies. While the easy availability of labour is a significant reason
Remember when you had to go to an office or bank to submit documents, get a reference from someone, go through the tedious process of filling out lengthy application forms and had to submit copies upon copies of ID proofs to get any official work done? Fortunately, we have Video
KYC or Know Your Customer / Know Your Client is a widely used process in the Financial services sector. From account opening, lending, collections, insurance issuance, and securities trading to fraud and risk management and compliance, KYC is at the heart of customer identification and onboarding. In a country like
Drug abuse at the workplace negatively impacts both employees as well as employers in many ways. The recent UNODC (United Nations Office on Drugs and Crime) report indicates that opioid use leads to loss of the maximum number of productive years. Around the world, 29.5 million adults are engaged in
Insurance companies rely heavily on their agents as a sales channel. But this channel has it’s own share of problems. Mis-selling and frauds by agents has been a big problem for insurance companies and IRDA for a long time now. The insurance penetration in India is less than 4% which
Automating customer onboarding has been discussed since a while now, across industries. But, with the pandemic posing restriction of physical interactions and movement, companies have been pushed to explore completely digital onboarding and contactless verification of their customers. The latest development for the insurance sector has come with IRDA allowing eKYC for some insurance
With RBI and SEBI already implemented Video KYC to simplify customer onboarding journeys, IRDA followed the suit with the announcement of VBIP (Video Based Identification Process), which will be equivalent to face-to-face verification. The Video KYC process will leverage digital channels for verification in case of both Life and General
In a welcome move, the RBI has recently permitted using Video KYC as a means of remote customer verification in the banking and financial services sector. After Aadhaar enabled e-KYC was discontinued by the Supreme Court from being used for establishing the identity of customers, the financial services sector, especially
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The most noteworthy aspects of our collaboration has been the ability to seamlessly onboard partners from all corners of India, for which our TAT has been reduced from multiple weeks to a few hours now.
