RBI in it’s latest circular has finalized the guidelines for Video-based KYC authentication process for all entities registered with RBI. With it comes a remarkable opportunity for entities to use a completely digital process to authenticate customer data and verify customer’s identity.
With Decimal’s award-winning DigiOnboarding Platform, you get access to a full suite of products and tools that enables all the functionalities as mandated by RBI.
- VideoKYC support – VideoKYC enabled platform allows you to initiate call outs from your digital application directly to your end-user – whether customer or live agent.
- Live Image Capture – Our vKYC solution allows you to capture live images directly in-app – both for documents or customer profile image. Hence, as per the latest RBI guidelines, you can capture PAN and other OVD documents as well as the customer image directly from the application and store for use.
- Test for Liveness – Reduce Fraud – Test for liveness of customer/images using AI-enbaled solution that auto-detects documents as they are captured during the vKYC process.
- Capture Geo–Location – Live location of the customer is captured for all contacts initiated on the platform. This will be stored and made available on a secure server to you for your audit purposes.
- Record your interactions – All interactions with your customers are recorded and available to you in line with RBI compliant guidelines.
- AI-enabled Face Matching technology – Our AI-enabled solution allows you to compare images extracted from OVD and identity documents and match against the live image data captured during VideoKYC process and show you a match output. You can also automate the process to automatically flag cases which are not compliant with your matching threshold.
In the next section, we outline a step-by-step workflow to initiate and fulfill VideoKYC for the purpose of customer verification.
- At any point during your customer onboarding journey, user can invoke the VideoKYC process to initiate a call with the banking agent.
- RE/Banks must ensure that a videoKYC authentication team is available at the bank/RE’s end to execute the process.
- A master VideoKYC authentication portal will be made available to this team.
- When user initiates the call, a queueing algorithm will be run to check which agent is available to receive the call. If no agent is available, a wait time will be shown to customer.
- Once agent is available, call will be initiated. At this point, interaction will start getting recorded.
- On Agent portal, the following details will be made available:-
- Face match percentage along with automated Pass/Fail scenario
- Document checklist
- Questionnaire checklist (these will be randomized basis randomization algorithm)
- Customer video view
- Once, KYC Authentication process is completed, call is terminated and file is submitted to DVU for review. VideoKYC authentication flag is checked for approval/rejection and same is passed to Data Verification team for approval/review as per bank defined workflow.