Video PD: Personalized & Secure Customer Onboarding For Businesses

Customer Verification Using Video PD

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 relationship, the outcome, & any potential risks it may carry.

Online PDs help companies avert potential risks that may arise when carrying out business with the said customer, thus helping them steer clear of revenue losses & legal implications.

Live PD video platforms offer an array of smart features that facilitate a smooth & effective customer interaction process for organizations. Integrations like liveness detection, geotagging, Optical Character Recognition (OCR), and many others enable businesses to make their customer verification process seamless. 

Why Should Businesses Implement Video PD In Their Customer Onboarding Process? 

Video personal discussion is integral to getting new customers to the business while steering clear of any risk that may come up with the association.

Firms can strategize future business growth plans by analyzing several important factors through virtual personal discussions:

  • Assessing the worthiness of the potential business relationship
  • Estimating the customer’s income prior to lending loans
  • Recognizing how the allocated fund will be utilized
  • Eliminating the possibility of incurring losses due to risks
  • Projecting future business expansion possibilities

Features Offered By Video PD Solutions

Online video PD platforms offer businesses a variety of beneficial features that can help them expedite customer/client onboarding and eliminate any chance of risk that may come with the client association. Some of the features that online PD platforms offer to businesses are:

  • Easy scheduling – Executives can schedule calls for Video PD on the go. The customer will be notified when a call is scheduled. 
  • Client chatbox  – Officials interact with customers via chat to ensure a smooth process flow 
  • Direct document sharing – Customers share all required documents directly via chatbox. Integrations for document transfer are offered on-call. 
  • Video recording capabilities – All interactions are recorded for auditing purposes 
  • Image-based verification – OCR technology extracts key data from images & verifies this information via real-time AI techniques
  • Facial matching – Customer identity is verified instantly and the customer’s presence is verified using liveness checks 
  • All-purpose dashboard – Single dashboard with schedules, customer documents & status
  • Channel & document support – Video PD supports all types of national photo IDs & can be integrated for desktop and mobile web use or via APIs

Benefits of Video Personal Discussions 

Online video PD solutions help businesses speed up conversion rates by assessing the customer from all critical business perspectives. They offer several benefits that make the customer onboarding process secure, personalized, and beneficial to both parties.

video PD - A New Way of Customer Verification

  • Personalized Customer Experience: Video-based customer interaction paves the way for a smoother Know Your Customer (KYC) experience. This eases the customer’s onboarding procedure and offers a personalized touch to the entire approach. 
  • Remove Restrictions Based on Location: Virtual personal discussions with customers help businesses eliminate geographical barriers when onboarding them. With the need for physical verification eliminated, companies do not need to bring customers over on-premise to complete the personal discussion procedure. 
  • Save Time & Exceed Targets: Another beneficial feature of video PD is that it saves businesses a considerable amount of time. With the hurdles of travel & office space removed, video personal discussion facilitates a higher number of customer interactions as compared to its physical counterpart. It enables the business to exceed its targets by offering a simple & effective solution to interact with customers. 
  • Lower Operational Costs: Virtual personal interaction with customers/clients helps businesses streamline & accelerate their onboarding process. Live PD video eliminates the need for companies to send out employees or agents to their customers to carry out the onboarding procedure. This brings down the total operational cost to which the company needs to allocate funds. 
  • Enhance Workplace Productivity: Virtual customer interactions are designed to be quick, efficient, & convenient not just for the customer being onboarded but also for the employees conducting the discussion. Being fast & efficient, video PD boosts workplace productivity. 
  • Increase Remote Onboarding: As geographical barriers are not a concern when it comes to online personal discussions, businesses can significantly increase the onboarding of clients or customers remotely. 
  • Enhance Audit Efficiency: As customer details are captured & recorded through video PD, companies can make their audit trails more efficient. The recorded data will be stored for future reference, enabling the business to retrieve data of any particular personal discussion whenever the need arises. 

Video Personal Discussion Process Flow

Video PDs are designed to be seamless & efficient, helping businesses easily onboard clients or customers. The process takes place as follows: 

  • Schedule Virtual Meeting: The business schedules an online meeting with its potential customer through a video PD provider’s virtual meeting platform.
  • Invite Customer: The customer is sent an invite via SMS/email to get on to the video meeting.
  • Upload details: The customer fills in their details on the video PD portal and joins the virtual discussion.
  • Initiate Video PD: Simultaneously, the executive carrying out the customer interaction also joins the meeting online.
  • Interact Online: The executive interacts with the customer either directly via video or through a chatbox. The meeting is recorded and screenshots are optionally captured for audit purposes. 
  • Upload Documents: The customer provides documents for verification as requested by the employee by uploading them via the chatbox. These documents are then added to the customer’s KYC profile on the Video KYC platform
  • Finalize Customer Approval: After the personal discussion is concluded, the employee approves/rejects the data and documents the customer or shares the document details, screenshots & call recording with the auditing team for approval from its end. 

SignDesk’s PD-Enabled Video KYC For Businesses

Platforms like SignDesk offer businesses AI-enabled digital customer onboarding solutions, complete with live video personal discussion features. Backed with cutting-edge technology & a smooth business-customer interaction module, SignDesk’s offers a seamless virtual customer onboarding tool businesses can benefit from, including face verification. Experience the video kyc benefits with a free demo on how businesses can conveniently carry out video PD when onboarding new customers.

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