The accessibility of the video KYC proved to be a boon for not just the finance sector, but also for other sectors as well especially during the extensive lockdown period. Video kyc has changed the way businesses function, and identity verification gets done in the shortest possible time, without involving any paperwork and in a very secure way. The benefits of the procedure have been encouraging enough for the non-financial organizations as well, and there is a scramble to access VCIP Digital KYC solutions to upgrade their services.
As the last year drew to a close, there was a greater awareness regarding, the video KYC procedure and the benefits it brought to the table. After the Video KYC for Banks, it was the turn of the insurance sector to adopt the procedure. Soon, other organizations followed suit, and even the non-financial institutes that decided to go digital were eager to learn about the advantages that video KYC had to offer.
One stop Video KYC solution: The New Normal
- The corporate sector can immensely benefit from the Video KYC India procedure. As now the work-from-home situation is the new normal, the organizations can easily onboard the new employees with the help of video KYC procedure. The advanced tools also help in dealing with employee data.
- The educational institutes would benefit as well while onboarding the students online. Not just that but during the examinations, the application of advanced technology can help the authorities keep the fraudulent activities in check as well.
- When it comes to the online gaming industry, where money is involved there could be a big chance of online fraud. The one stop Video KYC solution, being powered by AI technology could put a stop to this and help detect and prevent such issues from happening.
- The alcohol delivery taking place online can too immensely benefit from the video KYC procedure. Since the entire transaction now takes place online, it is extremely significant for the sellers to abide by regulations including age restrictions. This could be possible with the advanced features that allow them to get the verification done in real-time.
- In the telecom sector to there was a rush to access the Video based KYC identification procedure. Before issuing any new SIM card online the only way a seller needs to verify the identity and the location of the buyer, and the video KYC procedure can help them get that verification done in no time.
Being secure and faster the video KYC procedure would become mandatory in the near future.
