iSolve video KYC software solution is a next-gen digital identity verification system that eliminates repetitive customer KYC outreach activities. It digitizes end to end KYC verification & account opening process through sophisticated video-based customer identity verification system.
With advanced digital technology, it enhances customer experience through contactless, paperless & branchless video onboarding workflows. Financial institutes such as Banks, NBFCs, Asset & Wealth management services can digitally onboard and verify their customers within short turnaround times.
Our platform simplifies highly intensive KYC verification process & reduces the overall compliance operation cost by a big margin. It helps financial services to create strong customer relationships through enhanced due diligence & onboarding experience.
Superior Customer Experience is Everything!
Digital KYC and AML compliant onboarding solution for asset and wealth management services to create instant portfolios for individual & institutional clients.
Secured and compliant digital KYC and AML software solutions for next-gen online banking system to enable paperless and branchless customer onboarding.
It is a video-call-based contactless, paperless & branchless customer KYC verification process that can be carried out remotely with official representatives. Using the Video KYC application solution, banks or regulated entities (REs) can virtually identify, verify & onboard customers within short turnaround times.
It is a consent-based digital video ID verification process performed in real-time by official representatives. Video-based customer verification is done through audio-visual interactions, live photo capture, facial ID detection, Geo-tagging & other advanced technology systems to prevent fraud.
There are five steps involved in video KYC verification process.
Step 1: Capture - Customer ID & real-time image snapshot capture.
Step 2: Extract - Data extraction from the customer ID using ICR/OCR functionality.
Step 3: Verify - Customer KYC data verification with regulatory database integration.
Step 4: Locate - Identification of the customer location using Geo-tagging functionality.
Step 5: Onboard - Instant digital account opening with automated customer alert notifications.
RBI has extended the scope of video KYC to convert pending periodic KYC accounts into fully compliant KYC accounts. It allowed small businesses, Regulated Entities (REs) & Legal Entities (LEs) to use the VKYC solution for KYC updations.
Below are few important factors to consider before choosing Video KYC solution providers or vendors:
1. Product Demo
Ask for a complete product demo tour to know about the developed workflows in the application. This guided tour will reveal whether the application is built around your customer's needs or not.
2. Secured & Compliant Infrastructure
Make sure that the vendor follows RBI compliance guidelines for storing customer video footage, KYC data & other sensitive information in secured vaults to avoid data tampering or leakage.
3. Agile Technology
Vendors need to offer a seamless & uninterrupted low bandwidth video calling system to reduce customer drop-off rate.
4. Omnichannel Personalized Approach
A multi-device application is necessary to offer an omnichannel personalized experience for customers.
5. Technical Support
Last but not least. The vendor should have a highly trained technical team to support your operations 24/7.
Headquarters
iSolve Technologies Europe B. V.
Strawinskylaan 3051
1077ZX Amsterdam
The Netherlands
Headquarters
iSolve Technologies FZ LLC
A4-105A
Building No. A4
Al Hamra Industrial Zone-FZ
RAK, United Arab Emirates
Headquarters
iSolve Technologies Private Limited
3A, KG Business Centre
65, TTK Road, Alwarpet
Chennai - 600 018, India
business@isolve.global