Kwik.ID

  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. Th

  Data breaches have become common as most industries do not keep up with the latest security features and tools for data protection. Whenever a data breach happens, the company's reputation takes a massive nosedive. Thus, data security should always be a priority for companies. In the financial sector, online services have become widespread among the public since the pandemic hit. One of the key technologies that got implemented during this time was video KYC solutions. Through video KYC, people were able to update their details at banks and other financial institutions remotely from their homes. Even various companies started using video KYC solutions for the remote onboarding process of their recruits. The video KYC tool allowed the company to accept and authenticate the details and documents provided by the candidates. It made hiring a suitable workforce easier for them during the pandemic. The Reserve Bank of India had revised the KYC guidelines so that even banks, financial