Video KYC now available in India RBI (the Reserve Bank of India) has now permitted fintechs, banks, and other financial institutions to use new customer onboarding methods. The focus is predominantly on video based solutions as these provide the most security. Video Based Customer Identification Process (V-CIP), as the RBI refers to video KYC, is
Change is coming. In a survey regarding client onboarding in banks 40% of consumers stated to have abandoned bank applications and 39% of those abandonments were due to the lengthy process. Additionally, more than a half declared that they would be more likely to apply for a financial product if the process was fully online. These results give
If you are among the three-quarters of businesses who recognise their need to improve in this area, then the following fraud prevention and KYC tips should help to make you aware of some of the key areas that you need to address.
What is identity theft and what are its repercussions? If you think you’re immune identity theft, let me set things straight. There have been almost 17 million cases reported in 2017. And I’m not talking about the whole world. Only the US. Moreover, the alarming part is that the number of reported cases has been steadily on
10 Types of Identity Fraud and Theft Ever since the advent of the internet and the smartphone, our identities have been recreated in the virtual world. From online banking to online shopping, there’s plenty of place that require our personal information. Any unwarranted usage of our identity information could have catastrophic results on your savings