Video KYC: All about the new customer on-boarding process of banks

Banks have always been one of the pacesetters when it came to adopting innovative methods to improve the experience of their customers. In January 2020 the KYC guidelines were amended by the RBI. This was to include an additional method for KYC which is VCIP or Video-Based Customer Identification Process. Most of the banks were all set for this change. According to the guidelines set by the RBI, the KYC process is mandatory for customer onboarding and banking.

Contact less investments to become easy as CVL enters eKYC space

Earlier financial transactions involved huge amounts of paperwork. It’s not so now. Using the latest innovations these transactions are now entirely paperless. The COVID 19 situations have led to businesses and other institutions searching for more innovative ways to make ‘contactless’ transactions.

Bio-metric video eKYC launched for securities account on-boarding by CDSL Ventures

In a video-based eKYC, the individual can get their KYC done through a video call without having to leave their office or the comforts of their home. Unlike the traditional means of KYC, the authorized verifier does a liveliness check for face recognition and establishes the location of the individual using the geographical location coordinates. The authentication of the documents is also done by the verifier.

Aadhaar lost or forgotten? Here's how to retrieve it in minutes!

The Aadhaar, issued by the UIDAI or Unique Identification Authority of India under the guidance of the Indian government, is the most important of all documents to prove the identity of an Indian resident/citizen. It’s no wonder that people tend to carry with them regularly. There have been several instances where the individual has lost or misplaced his/her Aadhaar. In most of these cases, these people have also forgotten to save their Unique Identification Number (UID) as well. Situations have also been there where the individuals have lost their Aadhaar Enrollment Number (EID) after getting themselves enrolled for an Aadhaar.  So what can be done if you end up being in such situations? The government of India has made provisions to retrieve your Aadhaar in a few minutes. Based on your convenience, you can it online/ offline.