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Embracing Open Banking: Easing Implementation with Digital KYC

Introduction In an era marked by rapid technological advancements and evolving consumer expectations, the financial industry is undergoing a profound transformation through the concept of open banking. Open banking is essentially a framework that promotes...

A Guide to the DigiLocker API – Definition, Steps & Uses in 2024

Ganesh HegdeAug 01, 2023 API, id verification, Video KYC No Comments

A Guide to the DigiLocker API – Definition, Steps & Uses in 2024

API, id verification, Video KYC

DigiLocker: A Gateway to Authentic Digital Documents DigiLocker is a secure digital platform authorized by the Government of India as the official online digital document repository. The platform was launched in 2015 as a flagship initiative of the...

Face Detection Software: APIs, How it Works & Use Cases

Ganesh HegdeJul 27, 2023 API, Video KYC No Comments

Face Detection Software: APIs, How it Works & Use Cases

API, Video KYC

Face Detection: A Modern Solution for Identity Verification Face detection is a vision technology that involves identifying and delineating the presence and position of human faces within digital images or video streams or video kyc . It is fundamental...

Harnessing Digital KYB Solutions to Automate Merchant Onboarding

Ganesh HegdeJul 26, 2023 Digital Onboarding, Video KYC No Comments

Harnessing Digital KYB Solutions to Automate Merchant Onboarding

Digital Onboarding, Video KYC

Introduction In the dynamic and constantly evolving commerce landscape, businesses encounter numerous obstacles and possibilities to meet their customers’ needs. One area that frequently presents challenges is merchant onboarding. Manual merchant onboarding...

Shell Company Money Laundering: Red Flags & Preventive Strategies

Ganesh HegdeJul 20, 2023 AML, Video KYC No Comments

Shell Company Money Laundering: Red Flags & Preventive Strategies

AML, Video KYC

Introduction Shell companies have grown to play a significant role in illegal economic activities because of their capacity to hide ownership, manage intricate transactions, and take advantage of regulatory gaps. Shell company money laundering activities...

RBI tags cKYC as High-Risk – Implications & Video KYC as an Alternative

Ganesh HegdeJun 16, 2023 Regulations, Video KYC No Comments

RBI tags cKYC as High-Risk – Implications & Video KYC as an Alternative

Regulations, Video KYC

cKYC Accounts To Require Enhanced Monitoring – RBI In a notification dated April 28, 2023, the Reserve Bank of India (RBI) classified Centralized Know Your Customer (cKYC) as a high-risk process, sending ripples across the banking sector. This move...

What is Document Verification & How to Verify Documents Online?

Ganesh HegdeMar 15, 2023 API, id verification, Video KYC No Comments

What is Document Verification & How to Verify Documents Online?

API, id verification, Video KYC

Introduction In today’s fast-paced digital age, where more & more transactions, especially digital ones, are increasing by the minute, businesses in every sector need a secure, fast & reliable document verification procedure. Verification...

DigiLocker KYC – How Insurers Can Onboard Using DigiLocker

Ganesh HegdeMar 01, 2023 eKYC, Video KYC No Comments

DigiLocker KYC – How Insurers Can Onboard Using DigiLocker

eKYC, Video KYC

DigiLocker KYC: An Overview DigiLocker is a Ministry of Electronics and Information Technology (MeitY) flagship initiative launched as part of the Digital India Programme. DigiLocker is a secure document repository created for the use of Indian citizens...

Re KYC: Know Everything About Periodic Updation

Ganesh HegdeDec 27, 2022 eKYC, Regulations, Video KYC No Comments

Re KYC: Know Everything About Periodic Updation

eKYC, Regulations, Video KYC

Re KYC – An Overview of Periodic Updation of KYC Re KYC is a measure taken by banks to guarantee that the details obtained at the time of bank account establishment, such as KYC docments, contact information, address and so on, are up to date. This...

VIPV KYC: The Complete Guide for Video In Person Verification

Ganesh HegdeDec 21, 2022 V-CIP, Video KYC No Comments

VIPV KYC: The Complete Guide for Video In Person Verification

V-CIP, Video KYC

Video-KYC: Game-Changer For Investor KYC Verification Video-based KYC is a remote digital in-person verification process where the user can complete KYC verification in a fast and secure manner without visiting any brick-and-mortar location. Video KYC...

Anti-Money Laundering Guidelines Explained – IRDAI AML/CFT Guidelines

Ganesh HegdeDec 02, 2022 Regulations, Video KYC No Comments

Anti-Money Laundering Guidelines Explained – IRDAI AML/CFT Guidelines

Regulations, Video KYC

IRDAI Regulations For the Insurance Sector, 2022 – Master AML Guidelines The Insurance Regulatory and Development Authority of India (IRDAI) regulates the insurance industry in India. In 2013, and 2015, the IRDAI issued Master Guidelines on AML/CFT...

How Is KYC Different From KYB & Which One Does Your Business Need?

Ganesh HegdeSep 05, 2022 eKYC, Video KYC No Comments

How Is KYC Different From KYB & Which One Does Your Business Need?

eKYC, Video KYC

Introduction With illegal financial activities like money laundering & terrorist financing on the rise, businesses are realizing the need for robust regulatory practices in place. KYC (Know Your Customer) & KYB (Know Your Business) practices...

Assisted & Non-Assisted KYC Verification – All You Need To Know

Ganesh HegdeAug 22, 2022 eKYC, V-CIP, Video KYC No Comments

Assisted & Non-Assisted KYC Verification – All You Need To Know

eKYC, V-CIP, Video KYC

What is Assisted & Non-Assisted KYC? KYC, often known as “Know Your Customer” or “Know Your Client,” is a set of rules for verifying a user’s identity before or while transacting business with banks and other financial...

Onboarding 101: Everything You Need To Know About KYC Verification

Ganesh HegdeAug 05, 2022 eKYC, Video KYC No Comments

Onboarding 101: Everything You Need To Know About KYC Verification

eKYC, Video KYC

What is KYC Verification? Know Your Customer or KYC is a set of protocols designed to verify the identity of a client or entity before conducting business with them. The KYC process typically involves collecting certain information from a prospective...

Video PD: Personalized & Secure Customer Onboarding For Businesses

Ganesh HegdeJul 18, 2022 eKYC, V-CIP, Video KYC No Comments

Video PD: Personalized & Secure Customer Onboarding For Businesses

eKYC, V-CIP, Video KYC

What is Video PD? Video Personal Discussion, commonly known as video PD, is a virtual customer connect mechanism businesses use to become acquainted with their potential clients or customers. The process is essential for companies to analyze a new business...

Blockchain Based KYC – The Future of KYC Verification

Ganesh HegdeMay 27, 2022 Blockchain, eKYC, V-CIP, Video KYC No Comments

Blockchain Based KYC – The Future of KYC Verification

Blockchain, eKYC, V-CIP, Video KYC

KYC Verification & Blockchain Technology – Overview & Challenges KYC verification is the straightforward process of authenticating a client, employee, vendor, or stakeholder’s identity using validating factors. These factors could...

Penny Drop Verification – Instant Bank Account Authentication

Ganesh HegdeMay 19, 2022 eKYC, id verification, Video KYC No Comments

Penny Drop Verification – Instant Bank Account Authentication

eKYC, id verification, Video KYC

Why Penny Drop Verification Used For Client Onboarding? Penny drop verification is a form of bank account validation in which a penny, usually INR 1 (hence, the name), is deposited into the bank account. For example, if a business registers a new vendor,...

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