Verify Customers Instantly and Onboard Partners remotely with up to 70% reduction in operational costs with our end-to-end Video KYC solution.
Leverage our 100% RBI-compliant AML and KYC solution and get automated workflows to reduce your application processing TAT by up to 80%.
Integratable POI/POA checks for Instant KYC verification
Fast and accurate assessment using AI-based technology
End-to-end digital data verification for faster onboarding
Complete compliance to AML and data protection regulations
Step by step guide to Video KYC Process
Customer Application Initiation
Instant PAN Card OCR and Verification
Offline Aadhaar Verification/ OTP based eKYC
Geolocation Tracking of Customer
Automatic Agent Assignment by REs
Random Question Verification
Screenshot capture and liveliness check
Generating KYC Verification Report
Leverage the power of artificial intelligence and machine learning to create real-time, contact less onboarding journeys through Video KYC. Enhance your customer experience and scale up faster.
Verify and validate personal and professional details of customers, vendors, business partners, etc. at speed and scale, eliminating paperwork and delays. Our Video KYC makes customer onboarding remote, paperless, and saves your operational costs by up to 70% while remaining data-security compliant and ensuring complete adherence to the latest RBI guidelines.
Our Video KYC process uses liveness detection technology to determine and validate customer’s identity in real-time. It does so by comparing user’s live image with the uploaded national identity document using biometric anti-spoof algorithms. In this way, Video KYC helps in mitigating the risks of identity thefts and financial frauds before onboarding customers in banks, NBFCs, mobile wallets, gaming and P2P marketplaces.
Our Video KYC solutions eliminate cumbersome paperwork and manual document submission helping you enhance your customer experience and reduce customer application drop-out rates
Explore AuthBridge’s RBI and SEBI-compliant V-KYC Solution
Regulatory Requirement | Video KYC Solution |
---|---|
Live photo of the customer | Screenshot capture for customer's physical presence |
PAN image capture & Verification | Instant PAN validation from NSDL with name match |
Face match | Real-time selfie face match with NID to generate face match score |
Identity details validation | OCR enabled data extraction and verification with high image quality processing |
Geo tagging | Geo-location capture to ensure customer’s physical presence in India |
Randomizing of questions | Customizable security questions and activities using workflow |
Aadhaar number masking | Real-time redaction of Aadhaar number |
Geo-stamped Video storage | End to end encrypted video file storage, date and time stamping, archiving and labeling |
Prior consent of customer | Compliance with GDPR and other data privacy frameworks |
Aadhaar offline verification | OKYC and XML generation date validation |
Secure interaction | End-to-end audio and video encryption |
As per RBI’s guidelines, RBI Regulated Entities (REs) can do Video KYC verification of their customers with their consent.
V-CIP stands for Video KYC for Customer Identification Process.
Only authorised personnel with a legitimate business need will have access to your KYC information.
V-CIP or Video KYC is compliant with RBI’s latest guidelines only when it is facilitated by RBI Regulated Entities (REs) in consent with the customer.
The companies will usually reschedule the call or retry the process within a specific timeframe.
Video KYC (Know Your Customer) is a digital verification process where you confirm your identity through a live video call with a representative.
We’d love to show you how AuthBridge can help your business. Fill out the form and we’ll be in touch within 24 hours.
By submitting this form you are agreeing to our privacy policy.
This article will explain what a Video KYC is, as well as answer common questions about Video KYC.
Click a topic to scroll directly to it.
Video KYC (Know Your Customer) is an electronic method for verifying a customer’s identity through a live video call. This process allows institutions to authenticate customers remotely, ensuring compliance with regulatory standards while enhancing the convenience and speed of customer onboarding.
Traditional KYC involved manual verification of physical documents, often requiring customers to visit branches. This method was not only time-consuming but also prone to errors and fraud. With technological advancements, KYC practices have evolved significantly. The introduction of Digital KYC and subsequently video KYC has revolutionised the verification process, making it more secure, efficient, and user-friendly.
The video KYC process involves several key steps to ensure a secure and efficient verification of customer identity:
Video KYC significantly reduces the time required for customer verification. The entire process, from initiation to completion, can be conducted within minutes, compared to days or weeks for traditional KYC methods. This efficiency not only accelerates customer onboarding but also enhances operational workflows, allowing institutions to handle higher volumes of verifications without compromising accuracy.
By enabling remote verification, video KYC offers a seamless and convenient experience for customers. They can complete the process from the comfort of their homes, without the need to visit a physical branch or submit physical documents. This convenience is particularly beneficial in the context of the ongoing digital transformation, where customer expectations for fast and efficient service are higher than ever.
Video KYC incorporates advanced technologies such as AI, biometric authentication, and OCR to ensure robust security measures. These technologies help detect and prevent fraudulent activities by verifying the authenticity of documents and the identity of the person in real time. The liveness check further enhances security by ensuring that the individual is physically present and not using pre-recorded videos or photos.
According to a report, the video KYC market is projected to grow at a CAGR of over 20% from 2021 to 2027, driven by the increasing demand for secure and efficient customer verification solutions. This growth underscores the significant benefits and trust in video KYC as a reliable method for identity verification.
In India, the Reserve Bank of India (RBI) has established comprehensive guidelines for video KYC, specifically through the Video-Based Customer Identification Process (V-CIP). Key elements of these regulations include:
Stay Informed
Keep yourself updated with the latest innovations in BGV & Authentication Technology from India’s leading Background Verification Company
To begin, Tell us a bit about “yourself”
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.