SBI Card reveals video KYC feature

Tuesday 16 June 2020 09:29 CET | News

SBI Card has unveiled the launch of Video Know Your Customer (VKYC) feature to ensure zero contact, hassle-free customer onboarding process.

This launch is in line with SBI Card's endeavour to establish an end-to-end paperless, digital sourcing, and onboarding process, OutLookIndia reports. The VKYC initiative aims to have a substantial impact on fraud reduction, and reduce cost of the KYC process by nearly half.

VKYC enables a customer to undergo a completely presence-less journey, without the need to physically interact with anyone. The process uses techniques such as facial recognition, dynamic verification code, live photo capture facial recognition, and geotagging among others, as mandated by RBI guidelines, making it more safe and secure than physical KYC process.

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Keywords: SBI Card, launch, video KYC, customer identification, onboarding, digital sourcing, fraud reduction, facial recognition, dynamic verification code
Categories: Fraud & Financial Crime
Countries: World
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Fraud & Financial Crime

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