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What is video KYC?
What are some examples of video KYC verification?
What makes video KYC different from EKYC & Digital KYC?
What does KYC stand for?
In January 2020, the Reserve Bank of India (RBI) made amendments to Know Your Customer (KYC) norms that allow Banks, fintech start-ups and lending companies to remotely complete the KYC (Know Your Customer) process through a live audio video interface.
Jul 26, 2024 · Video KYC in a bank refers to the remote verification of customers' identities using video conferencing tools. This is particularly useful for opening new digital Savings and Current Accounts, applying for Credit Cards and other banking services.
Video KYC is an alternate mode to complete the Customer Identification Process through video interaction, allowing new customers to open and manage their online banking facilities.
VKYC or Video KYC is the process of verifying a customer’s identity remotely through a live video interview and eliminating the need for physical presence. It combines the convenience of remote verification with the security and authenticity of face-to-face interactions.
As opposed to physically visiting a bank, you can complete your account opening digitally through Aadhaar OTP based E-KYC and then click and connect on a video call with bank official for an audio-video based verification.
4 days ago · Video KYC is a digital method of verifying a customer’s identity via a video call. This process is conducted by a bank representative. The primary goal of video KYC is to simplify and expedite the KYC process while maintaining high security and compliance standards. This innovation is highly relevant in the digital age, where customers prefer ...
Video KYC stands out from other KYC verification protocols such as eKYC or digital KYC due to its incorporation of video-enabled features, audio-visual interactions, facial matching capabilities & the all-round usage of AI technology to streamline & expedite the KYC verification process.
