The digital revolution has impacted every industry across the world. The influence was experienced by the Fintech sector due to advancements in payment exchange systems, and online asset supervision. Additionally, digital platforms have connected consumers more with the Fintech sector. The digital system has supported the progress of multiple companies but there are shortcomings that cybercriminals can use to exploit the system. In this light, the video call KYC verification service is an ideal approach for organizations. Using liveness detection and 3D depth perception features discourages hackers from harming businesses externally.
Video Call KYC Verification Service
The video-based KYC verification software verifies the credentials of customers and their given records. The advanced digital service uses a video calling feature to evaluate the live presence of the identity and stop cyberattacks. The latest method ensures elevated security as it is supported by AI features e.g. liveness detection and 3D depth analysis.
Advantages of Video Call KYC Verification Solution
The latest KYC process utilizes the support of an expert to instruct consumers during the whole procedure. The KYC professional guarantees that the submitted records are authentic and the identity of the consumer is genuine. The video call KYC verification service is a powerful security system as compared to the old protocols. Another massive benefit of the product is that it ensures compliance with AML/KYC guidelines to safeguard companies from undesirable financial consequences. Furthermore, consumers who want to experience the onboarding procedure must not feel anxious about the interview session because it ensures a positive experience for all clients.
Guaranteeing a Strong Connection with Consumers through Video Call KYC Verification Service
The latest video-oriented KYC verification method ensures a positive customer experience around the clock. The KYC professional guides the consumers to display their government-generated documents. The KYC expert also asks a number of questions to ensure the genuineness of the client’s credentials. The stage makes sure that only legitimate customers get services from businesses. In the course of the interview session, the professional also deciphers the body language of the clients to detect manipulation. At last, the integration of AI & ML technologies enhances the standard of video call KYC verification service by using skin texture analysis.
Inspecting the Video Call KYC verification Service Efficiently
There are similarities between the auditing services and video KYC verification service that allows authentic customers to gain benefits from the relevant business. If there is any suspicious behaviour, the video KYC verification technology halts the authentication procedure instantly and notifies the authorities to take prompt action.
Safeguarding the Digital Platforms Through Video Call KYC Verification
The technological revolution has equipped cybercriminals with various methods to bypass the security protocols of organizations and finish their inhumane goals. Hackers can steal the identity credentials of anyone, alive or dead, to take advantage of insurance money. They even have the option to sell data on the dark web. Video call KYC verification system discourages financial crimes due to the latest security features.
The global regulatory members have announced that financial organizations and crypto businesses must verify the identities of their customers during the onboarding procedure before giving them company services. In this light, they guarantee adherence to KYC guidelines. According to advanced regulations, any business dealing in cryptocurrency must promote transparency during the procedure. The target can be achieved through a robust video call KYC verification. Consequently, the implementation of a video-based KYC system discourages money laundering and other financial crimes.
Several perks of the video call KYC verification method are as follows.
- The procedure saves time and resources because of the support from AI & ML technologies. In this way, the system not only ensures the quality of the results but also real timeliness for the consumers
- The system elevates security protocols because of the addition of the latest features of liveness detection and micro-expression analysis. The online product can manage it all because of hundreds of Artificial Neural Networks (ANNs)
- Video call KYC verification service ensures compliance with KYC/AML standards which are crucially important for reducing financial crime in the world. Global watchdogs push all companies to fight money laundering and terrorism financing cases actively. There are companies that take the KYC/AML standards non-seriously. Hence, they experience heavy financial fines/ permanent bans depending on the nature of the crime
The Botton Line
The implementation of video call KYC verification solutions in the Fintech industry has opened various opportunities to guarantee a seamless client experience. In this situation, there is a serious need to adopt the latest digital solutions to have a competitive advantage in the market. The old/traditional methods were ineffective, time-consuming and error-prone. The latest video call KYC verification service integrates well with pre-existing technologies in the organization. The new procedure involves a brief interview session with a KYC expert who must verify the records. The short interview and customer record verification stages are crucial in minimizing digital fraud along with other financial crimes.