The Banking and Fintech sector is developing rapidly in terms of improving current processes like Customer Onboarding, Claim Processing, and Face Detection & Matching, with the help of different technologies like Artificial Intelligence (AI), Machine Learning (ML), and Intelligent information management(IIM) platforms.
All this development and adoption is only possible and due to the futuristic and technology-oriented approach of companies. Recently, Reserve Bank of India (RBI) has also updated the KYC process, where they have given permission to do complete the KYC process digitally i.e. e-KYC. Means, now Customers can complete their KYC process in just a few simple steps which not only will save time but also improve the KYC process and better Customer Experience.
Why Video KYC is the ultimate solution?
Investment in AML & KYC is rising steadily and 62% of Executives expect an increase in spend on KYC. The study also states that “KYC Solutions rank among the highest value Commercial Banking Technologies”. With this, Video KYC is also helping in preventing and detecting the frauds which had increased significantly.
Video KYC has also decreased the average turnaround time as compared to the old KYC process. The old process was time-consuming and had many steps which resulted in bad customer experience.
Another main benefit of video KYC process is banks don’t have to rely on customer’s availability, customer can complete the process as per the flexible time. Which resulted in quick customer onboarding.
Say bye-bye to the maintenance of physical files and manual data entry.
Documents in physical form can be misused in many ways but thanks to Video-KYC with the help of state of art technologies like Artificial Intelligence, Machine Learning, and Deep Learning documents are checked on a real-time basis and stored in a secure place.
AIQOD`s Video KYC Suite:
With a vision of empowering enterprises through technological innovation AIQoD, a leading IIM platform with over 250 clienteles, has automated many complex and time-consuming processes not only in the Banking and Finance sector but also in the Insurance, Manufacturing, and Service industry. Our customer-centric approach helps us to develop state of the art IIM platform with plug n play and end to end customer onboarding process with video KYC feature.
What makes AIQoD KYC Suite different from others:
- AI-enabled Face Detection and Liveliness Checker Bot play an important role in Face Detection.
- Fast and Trusted platform.
- Uniquely developed OCR bot which extracts data from documents so that you can process it as per your need.
- An intelligent report studio helps you to generate reports as per requirement.
- Plug n Play platform.
- User Friendly, Secure, and Complaint.
To know more about the solution you can reach us at- info@AIQoD.com