With the rapid onset and spread of COVID-19, businesses are switching staff and operations to remote/work from home mode. Leaders, more than ever, are looking for presence-less technologies to drive their businesses. Hence, RBI's regulation around the usage of Video KYC couldn't have come at a more opportune time.
It has not only made it easier for Regulated Entities (REs) of the RBI to leverage video call technology to on-board customers, but it has also made the process significantly cheaper. This will, in turn, result in benefits of lower opex and faster growth of REs.
It has been over two months since January 8 and the jury is still out on the adoption of the technology. But amidst all the speculation, we should pay more heed to the role of Video KYC as an enabler of business continuity. Furthermore, RBI has officially recommended REs to use AI technologies to automate the whole process and decrease the chance of operational risks, thus resulting in increased efficiency and throughput. So, not only does the process saves your dollars but it also reduces the cognitive load on your on-boarding agents and makes them more productive.
So, where does HyperVerge come in? How can it help your business and your customer maintain the right balance between smooth on-boarding and accurate identity verification?
In this webinar, Mr. Mahesh Despande (BFSI, Industry Head) of Microsoft and Abhisek Dey (Product Head) of HyperVerge discuss how Financial Institutions can leverage AI technology to on-board customers and grow their business in a hassle-free, quick and secure way.
Do watch the webinar to learn more about:
- RBI regulations and interpretations around Video KYC
- Ideal Video KYC workflow
- Challenges and nuances of the Video KYC system
- How can Video KYC help you maintain business continuity in the times of crisis