Introducing IDMlive: Our Video KYC Verification Solution
Know Your Customer (KYC) has undergone several digital evolutions in the last decade. And as usual banks and other financial institutions were the first onboard to adapt to the changing digital landscape. However, when video verification was offered as a KYC solution, suddenly a lot of banks were not as forward-moving as they were before. Even when Covid 19 pushed video-based KYC to the forefront and Anti-Money Laundering (AML) requirements increased, many banks were still resistant to video KYC verification.
Nevertheless, customer demand for video KYC verification solutions rose and banks, Fintech companies, and large corporations were forced to provide alternative means for customer onboarding. But many banks only opted for either e-KYC’s online KYC verification and/or video chat for select existing customers. Despite having a variety of video KYC providers available to them, the lack of adaptation of video-based KYC was placed on too much staff training and system requirements.
Read more on Idmerit’s Video KYC Verification Solution: https://www.idmerit.com/blog/introducing-idmlive-our-video-kyc-verification-solution/