KYC or Know your customer is the process of knowing a customer with a goal of detecting and avoiding fraud in financial transactions.
Video KYC
New way of On-boarding
KYC or Know your customer is the process of knowing a customer with a goal of detecting and avoiding fraud in financial transactions.
An e-KYC is when KYC procedure is performed electronically. It is a paperless process. But eKYC was stopped in 2018. Whereas Reserve Bank of India (RBI) in Jan 2020 has announced video-based know-your-customer (KYC) process, called as Video-Based Customer Identification process (VCIP) which is a process of completing customer KYC without the customer having to physically visit the Bank or financial institution.
According to this amendment, customer will have to give consent for his Video KYC
JISA Softech, expert in PKI & Cryptography domain having focus around, compliance, security and innovation launches, JISA’s Video KYC solution adhering to the guidelines by RBI.
Features of JVideo KYC
Capturing live location
Ensuring real interaction with assisted Video KYC
Real time PAN & Aadhaar Verification
OSV (Original Seen & Verified) process
Face Match with documents
Unlimited storage & instant retrieval facility
End to end encrypted video call
Customer identity verification through Aadhaar verification
Time stamp and audit trail for every interaction
Concurrent audit