RBI allows Aadhaar-based Video KYC for customer onboarding and to verify identity

By | | January 29, 2020

Now The Reserve Bank of India (RBI) has approved remote video-based authentication through Aadhaar as a substitute for e-KYC practices.

Video KYC

It will allow financial services providers in India to leverage technology to quickly authenticate and onboard remote customers.

As per RBI Guidelines, the process will be done through the Video Customer Identification Process (VCIP). The VCIP will eliminate the need for customers to be physically present at the bank’s (or the other regulated entity) premises for KYC, as they can share video and make a video call to a representative from anywhere in the country.

RANKTECH has Off-The-Shelf product for transforming e-KYC to v-KYC, that too anytime, anywhere. Including solution for user capture of Facial Biometric & customer KYC records through OCR during the onboarding and verification. To reduce the burden of physical verification, the geo-coordinates to are captured are provided along with user details. This eliminates the costly and time-consuming process of physical verifications.

So come & Experience Kuber – Video Banking…