How Video-Based KYC Standardizes Identification Processes?

How Video-Based KYC Standardizes Identification Processes?

By Capital Markets CIO Outlook | Monday, July 27, 2020

Capital market professionals recognize the potentials of video-based KYC identification processes that promise to offer more secured investment experience to the customers across the globe.

FREMONT, CA: Today, KYC processes are one of the most secured verification methods used by various financial institutions. Innovative KYC methods are used to identify documents and proofs of address instantly without the need for customers to sign in with digital banks. Numerous KYC online verification methods are based on artificial intelligence, security codes, and video.  Capital market firms recognize the potential of video-based KYC and are significantly exploring new options to meet regulatory approvals.    

Video-based KYC allows customers across the globe to remotely join the digital platforms for investments while enabling the capital market firms to precisely and immediately verify the identity of participants. The video-based KYC makes the user interface more secure to perform investments and other financial activities. The advanced KYC identification methods enable live video conferencing while verifying the identities simultaneously. The video-based KYC verification processes can effectively serve the global customer base by allowing the firms to coordinate seamlessly.  

. The video-based KYC uses Optical Character Reorganization (OCR) to verify its customers in real-time. The innovative verification solution provides capital market firms with numerous benefits, such as prevention of scams and malicious activities, identification of any suspect for money laundering activities, protection of investor assets, reduction of paperwork, automation of identification processes, and cost-efficiency.

The video-identity KYC verification method is a carefully designed process that automates the analysis of both biometric features and document integrity. By deploying the video-based KYC methods, the capital market firms can speed up the consumer onboarding processes and introduce new applications to increase their business revenue. The revolutionary identification method automates the recording of all interactions for future reference and assures anti-money laundering by adequately protecting against forgery. Instant verification provides a unique customer experience, encouraging more users and consumers to invest in capital markets.

Check out: Top KYC Solution Companies

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