The digital world is growing with time and the traditional methods for validation are not enough. The world needs digital assistance for the business’s growth through which they can conveniently verify their clients before making any contact with them. The digital world is the result of the diverse list of pandemics that the world has faced in recent years. The things that are going online have given a lot of chances for scammers to trick people. To challenge all the scammers it is necessary for all businesses to have an online verification system.
It is necessary for that system to have multiple layers of security so it will assist businesses in fighting fraudulent activities. KYC offers its facial verification and video document validation feature through which businesses can protect themselves from future threats. This blog will discuss the important features of KYC video and how it is helping in promoting the business’s growth.
KYC Video Identification
KYC video identification is the procedure of validating the customers through a video call. This video verification is not only for knowing the authenticity of the clients but through this validation process the organization worker also checks for the ID documents.
Revolutionize Manual Ways of Validation
KYC Video provides its assistance to multiple businesses including the financial, online platforms, traveling, and medicine industries. This advanced process of verification has revolutionized the ways for validation to the next level. In the manual verification systems, the clients had to go to the office branches because physical presence was mandatory. The traditional ways to verify clients create a lot of tension between them and the organization’s workers. The clients have to pay for the multiple copies of the documents that they have to submit to the organization. Furthermore, the process of manual verification takes an excessive amount of time to complete the task.
In this digital world, everyone is busy in their lives; they do not have extra time to go to office branches and complete their verification procedures. To cope with all these issues businesses need a KYC video identification system that will assist them in their validation procedures with less manual effort. Moreover, the e-KYC video verification successfully completes the tasks within a matter of seconds. Electronic KYC offers the same procedures as manual verification systems but it completes the process more quickly and efficiently.
Automated Process of Validation
Digital KYC video has AI algorithms and machine learning benefits that assist businesses in dealing with the verification procedures by analyzing the small details that a human eye can not manage to see. This process of verification is free from human errors.
KYC Video Identification System a Dire Need
KYC video verification works as an anti-money laundering and anti-terrorist solution that makes it a dire need for the businesses of this advanced world. It assists businesses in fighting the high risks of criminal attacks.
This online system for verification also provides a risk assessment facility in which the clients are monitored even after their encounter with the organization. If the system finds out any suspicious activity done by the client then the system urgently generates a notification and informs the organization about it. That’s how KYC video identifiers save businesses from fraud.
KYC video verification has become a challenging feature for criminals as they have to pass the multi-layers of security and fail to do their tricks. KYC video calls not only work for verifying the customer’s facial features but also make lengthy and complex procedures into convenient ones within a few seconds.
Fighting with Threats
KYC video-verified businesses have the ability to combat different threats including:
Digital KYC verification knows how to detect deepfakes in which scammers trick the organization by transforming their facial features with someone else.
Scammers in Onboarding
In the onboarding procedures, Fraudsters utilize stolen documents in their verification process. But with KYC video it’s impossible to use stolen documents.
In validation procedures, the scammers manipulate their images with 3D effects and filters so that the organization workers will not see their original image. But KYC video has challenged the scammers with their advanced technology of face detection online. Digital KYC detects the small details of the facial features due to which the fraudsters are not able to trick the organization.
The KYC video identification system knows the best ways to handle the important details of the clients. The online system for verification never shares its client’s data on the internet and to any third party.
This advanced system with AI algorithms has the ability to promote businesses to the next level. Moreover, the system is quite seamless, fast, and effective, it assists businesses in increasing their credibility.