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Video KYC Is The Solution To Verification Challenges

The video KYC is definitely the answer to the numerous verification challenges that traditional KYC has. Read on.

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Video KYC Is The Solution To Verification Challenges

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  1. Video KYC Is The Solution To Verification Challenges

  2. The Video KYC Has Been Addressing Challenges The verification procedure has become an integral part of the banking services, if you want to access the banking services you must consider undergoing the verification procedure. The traditional KYC process has been around for a long time and not without its unique challenges. There is no denying the fact that the Video kychas been successful in addressing those challenges. Let's find out how.

  3. Video KYC Has Overcome The Physical Barrier The traditional KYC procedure demands the documents be submitted at a branch, and then there is the need for an IPV. But people who reside in remote villages with no banking facility nearby, or, decent network that will allow them to digitally complete the process. However, with the help of the Video based KYC identification things have truly changed. The powerful video KYC tools make it possible to carry it out from anywhere in the country.

  4. Video based KYC Identification is More Secure With the traditional video KYC procedure which involved a lot of paperwork, there still remained the chance of forgery. But the Video kyc procedure makes the entire procedure absolutely secure as the tools are powered by AI technology. The verification of ID and address is done in real-time and thereby eliminates the factor of any forgery.

  5. The Video KYC Eliminates The Tedious Paperwork Unlike the traditional KYC procedure which involves a lot of paperwork, and a tedious documentation process, the Video based KYC identification is absolutely fuss-free. The procedure is also instantaneous and is highly cost-effective.

  6. Video KYC Is Cost-effective and The Onboarding is Faster The video KYC procedure is highly cost-effective and not to mention it makes the onboarding a smoother process. The bank and other financial institutes can onboard customers smoothly in an instant, this allows them to onboard customers in large numbers.

  7. Video KYC can be truly a game changer in the future as it has the potential to bridge every gap.

  8. Thank you

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