Loan fraud prevention using video verification Things To Know Before You Buy
Loan fraud prevention using video verification Things To Know Before You Buy
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It requires capturing the customer’s knowledge, conducting true-time video interviews, and carrying out vital checks to ensure compliance with regulatory prerequisites.
Seamless integration of video KYC with present systems and workflows is significant for any sleek onboarding process. The solution should be suitable with the organization’s customer management systems and easily integrate video KYC into the present onboarding workflow. This makes certain a cohesive and productive process without causing disruptions or delays for customers.
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Throughout the video call, enterprises need to diligently validate the customer’s identity and paperwork. This involves diligently inspecting and validating identity documents offered because of the customer, for example passports or driver’s licenses.
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Secure: Video KYC platforms use secure video conferencing technologies and info encryption to protect your individual details.
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Freelancer.com CEO Matt Barrie instructed PYMNTS that live video calls are Among the many most secure strategies to confirm identities, though the platform can only spare plenty of workers to implement this process when significant amounts of verification are required.
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What does the KYC process contain? The KYC process will involve sharing a live Photograph or video and formally valid files, which happen to be then verified towards Formal documents.
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