Why Video KYC is a Must for the Businesses?


Whether you belong to the finance sector or, elsewhere you must be aware of the VideoKYC and how it transformed the finance sector allowing the businesses to remain functional despite there being a nationwide lockdown.  The procedure allowed the banks and other organizations gradually to get the KYC verification done and onboard the customers remotely. It is needless to point out how it benefitted the industries and helped them expand their customer base. The digital journey has started and it would only continue so, it is time to adopt the video KYC procedure to upgrade your service. If you are still not convinced then you need to learn the benefits that it brings to the table.

Video KYC: The helpful features

The video KYC procedure offers many advantages.

  • One of the biggest benefits to consider here would be the fact that it is completely a paperless procedure. You no longer have to undergo or, make your clients undergo any kind of paperwork. The verification is done online and that lessens the chances of fraud.
  • The verification process gets more efficient and secure with the help of the video KYC procedure as the entire Video-basedKYC identification gets done in real-time. The process is much faster and there is no chance of forgery.
  • It does not matter at what point in time you want to get it done and also from where. The time and location do not matter as long as you are in the country, the video KYC can take place without there being any constraint. This enables you to expand your customer base as people from remote areas could be onboarded as well.
  • The process is more cost-effective and highly efficient, so you stand to gain from it especially when you choose the right vendor.

So, get ready to embrace the power of video KYC to power up your business.

Comments

Post a Comment

Popular posts from this blog

Video KYC for Banks is Here to Stay

Image
The last year was spent amidst such big chaos, all of a sudden we had to adopt a lifestyle that we were not at all prepared for. The industries had to find a way to stay operational during the lockdown with the help of digital tools. However, things could have gotten worse for the banking sector, had it not been for the Video KYC procedure, which RBI had given its approval to in January before the lockdown hit us. The banking sector indeed survived the onslaught of the pandemic all thanks to the Video KYC procedure. Although the situation had started being back to getting normal, there is suddenly a requirement for a further lockdown. Until and unless the situation gets better we cannot imagine getting back to the normal way of life. Video KYC for Banks is the Solution: Now with another lockdown situation staring at us, we cannot afford to put things on the backburner. We could easily make things moving despite the lockdown. The only thing that could help the banking sector and othe...
Read more

Tourism and Other Industries are Turning to Video-based Solutions

Image
  The pandemic is definitely causing big paradigm shifts across industries around the world, the situation has changed in such a big way as we all hurried to resort to digital solutions. Every industry had to struggle to fit into the new normal, the situation was most definitely complicated as the very survival of the industries was under threat, the hospitality industry especially was having a tough time, they had to shut the shop for longer months and there was no way they could have stayed afloat. As slowly things started getting back to normal the industry needs to find its unique digital solutions to stay functional. The video-based solutions including the video KYC verification will probably be accepted norms now. To understand its impact let’s take a deeper look at the situation. Video-based solutions: The auto-check-in would be a reality from now on as this is definitely a measure that the customers can enjoy and this would also enable the staff to maintain a safe distance...
Read more

Video KYC is Being Implemented Across Various Sectors

Image
  During the pandemic, online services and remote work culture became prevalent among people. Various sectors and industries had to implement solutions that could help them adjust to this new trend in the work culture. For example, the onboarding process can now be done remotely with the tools of video KYC solution providers . Nowadays, companies from both the financial and non-financial sectors have started implementing this solution in their workspace. Let us look at some of the industries that have started using video KYC . Sectors Using the Video KYC: Banks Many banks have started using the tools of video KYC solution providers to do the verification process of their customers. It is especially helpful for people opening a new account as their verification process is completed quickly within a few minutes. They can have access to their bank account as soon as their identification process is completed . Insurance Companies Previously, people had to fill out multiple forms and pr...
Read more