Expanding And Securing Financial Services With Accura Scan Video KYC Solution - Accurascan

07 Nov 2022

The banking and finance industries are altering their operations through digital means. As a result, fintech businesses are investing significantly in the most recent technical developments and methods to make remote banking operations easier. The video KYC for banks aims to simplify the authentication & onboarding process of banks for their clients.

Banks can start an identification procedure to enrol their customers with "Know Your Customer." The recent innovation enables customers to authenticate their identification in video format with video KYC solutions. Banks support video KYC systems for various transactions, such as loan applications, opening bank accounts, and insurance purchases.

Why do Finance Industries need a Video KYC Solution?

  • Spoof attacks

Attacks that pretend to be customers to gain unauthorised access to wallets or other confidential material are known as "spoof assaults." Video KYC for banks and other financial institutions prevents these attacks.

  • Fake identities

KYC is a procedure that makes it simple to use video to confirm a customer's identification. Due to the lack of written documentation, this promotes both client and bank protection. While this procedure has numerous advantages, among the most notable ones may be its reliability rate, which is 98% and continues to attract the interest of leading institutions in Asia.

How is video KYC implemented?

Here's how to incorporate the Video KYC process into your business:

  • Step 1: Enrollment

Banks are now demanding all clients register for various purposes, such as ID verification and loan applications, before they may access bank accounts, loans, or insurance policies.

  • Step 2: Entering the profile

Banks must collect profile information by gathering crucial information, including the customer's name, security number, contact information, and address, to strengthen security and speed up transactions.

  • Step 3: Make a virtual face-to-face call.

Instead of only using a photo ID, video KYC enables authentication through video footage. This technology has completely changed how bank employees can confirm customers' identities. Many banks are now utilising it as their primary identity verification since it has grown to be trustworthy.

Conclusion

The value of digital financial services in providing individuals and governments with safe, affordable, and frictionless financial tools has grown as the globe struggles with the COVID-19 problem. Accura Scan employs a video Selfie technology for genuine user verification and identification and compares it to the photo on the identity document.

We are one of the top real-time ID verification businesses. Call us at +91 820-898-8751 or send an email to sales@accurascan.com for further information.

FAQs

1. Which banks provide video KYC facilities?

A plethora of banks provide video KYC facilities, some of which are ICICI Bank, Axis Bank, Kotak etc.

2. How long does it take to video KYC?

Typically, the video KYC process is finished within 10 minutes of starting.

Unlock the True Identity of Your Users with 3D Selfie Technology

A simple selfie will do your customer verification and authentication. Accurascan authentication is a new 3D technology for preventing identity theft. Our Authentication captures hundreds of images of people when they take a selfie video to verify themselves during high-risk online transactions. Creating a 3D identity map that can’t be spoofed.

Identity Card Scan

Identity Card Scan

100% OCR Accuracy. Scans the ID Card, Auto fill and Verifying the Document

Face Match

Face Match

Matching the User Selfie with the photo shown in the ID Card.

Liveness Check

Liveness Check

Was the person himself present while doing the transaction? or submitting KYC doucments? or while opening the account?

Results

Accura Scan Identity Verfication gives result immediately in Real Time. Know your Real Customers


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Commercial Bank of Dubai
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NEC Payments
T Mobile
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TUI

Accura Scan Digital ID Verification & KYC

Real Time ID & Identity Verification, Digital KYC, AML Verification, Certified Liveness Check, Face Biometrics and Document Authentication Service. Make your Online On-boarding & User authentication process risk-free with Accura Scan.

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