Central Bank of India shakes hands with Kwik.ID to boost customer onboarding digitisation

Wednesday 30 March 2022 08:42 CET | News

The Central Bank of India has selected India-based digital KYC platform Kwik.ID to implement its solution for the bank’s network across the country.

The decision comes after an eight month-long evaluation process on technology and product experience, followed by a reverse auction commercial round for the selection. The partnership will help the Central Bank boost its digital transformation agenda and support digital finance initiatives.

By using Kwik.ID’s e-KYC and AI-based video KYC solutions, the financial institution is looking to digitise around 10 million customers annually. Kwik.ID is a flagship product of the full-stack AI company The latter counts for over 1.5 million digitisation sessions conducted for some of the country’s largest fintechs and financial institutions, including RBL Bank, Spice Money, and Bank of Baroda.

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Keywords: central bank, KYC, eKYC, KYC utility, digital identity, digitalisation, digital verification
Categories: Fraud & Financial Crime
Countries: India
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Fraud & Financial Crime

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