Ever since the technological innovations have landed in the market, other businesses and fintech organizations are getting heavily dependent on them. They have every reason to be but somewhere it is believed that modern AI technologies can do wonders with perfect human intelligence. The perfect blend comes in online video identification for customer onboarding. A business can verify identity by video call instantly for a better customer experience and for an error ratio as low as possible.
Both automated systems and human talent integrated into the KYC ensure protection from financial violations as the onboarding of legitimate customers is ensured. The solution does facial recognition machine learning by video call while the professional KYC agent carries out his/her job.
Brief Overview
During the global pandemic, Air-driven global IDV solutions have supplemented businesses. The identification program of customers went digital completely. With the integration of online services confirming different aspects of a client, not only the concerned business but the customers themselves have been benefited due to swift facilitation. The KYC solution does verify identity by video call to eliminate every ounce of doubt and establishes a healthy transparent relation between an organization and its customers.
The video identification was initially restricted to financial corporations, banks, cryptocurrency but now mobile wallet companies are also availing them for a secure customer pool.
Increased Customer Experience
If firms verify identity by video call and streamline onboarding, customers get attracted and become loyal as they respect the time of their clients. For those costs is not an issue, time becomes one. Especially during the pandemic, customers do feel they have missed out a lot. A business can verify identity by video call for quick onboarding so the customer realizes that the entity is responsible for maintaining regulatory compliance and data security. Other than that, they value the precious time of customers.
The implementation of automated technology to verify identity by video call is going to get consistently practiced as the fraudsters are getting innovative.
Key Benefits of Video Verification
- The sophisticated methodologies of scammers and the strict obligations by the government can create immense pressure on banks and cryptocurrency exchanges. The slightest setback can turn tables around for a standing firm. The solution does verify identity by video call to let the business go on. This is always a marathon. A firm can’t stop or it’ll lose. Regulators can impose a temporary or permanent ban of the entity for non-compliance that just makes things worse
- The financial loss, customer reduction, monetary penalty, and on top of that, restriction from doing business can be prevented if the firm does verify identity by video call. This last phase of the compliance program supported by human KYC experts leads to the right decision for the company
- Due to non-compliance being recognized after the penalty and defaming of a financial institute in the market surely decreases the customer pool by a great difference. Even if not that, due to unstructured KYC programs, customers might go for the competitor as the current ones are taking time for confirmation. The KYC solution does verify identity by video call for assured and quick onboarding so the customers don’t get any second thoughts about the entity
- Plus the reduction of paper-based documents and the error ratio due to manual processes are the most basic features of the automated service but that doesn’t make the system lose its essence. The global system does verify identity by video call and streamlines the procedure and due to it organization gets to know their clients better and get more assured
- The global solution does verify identity by video call where the Id documents of the client and facial recognition is performed in just a few moments with authentic output. After the basic registration and submission of Id documents to the particular entity or digital platform, on a live call being scheduled, the business does verify identity by video call: national ID certificates are presented and the KYC agent examines the presence of the client
- The body language, gestures, and other cues provide significant data if the agent is trained
Hard to Deceive
The loopholes in this service do not exist. The system can verify by video call with accuracy as video is hard to fake. In the live call, the imposter does not know what are going to be the questions, and what will be their order. For liveness detection, the agent can ask the client to perform specific commands. The solution does online face verification by video call instantly and uses of facial masks and deep fake don;y stand a chance.
Also Read: Video Production for Different Corporate Requirements
Conclusion
A business should verify identity by video call, the global solutions are rendering ultimate safety from potential scammers. The perfect duo of AI and human talent makes an entity unbeatable. It prevents money laundering and other crimes as it only allows legitimate and risk-free clients. The solution does verify by video call for great business expansion and customer experience.
