{"id":5022,"date":"2021-03-11T17:45:21","date_gmt":"2021-03-11T17:45:21","guid":{"rendered":"https:\/\/signdesk.com\/in\/?p=5022"},"modified":"2025-09-17T07:13:17","modified_gmt":"2025-09-17T12:43:17","slug":"everything-you-need-to-know-about-video-kyc","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/everything-you-need-to-know-about-video-kyc","title":{"rendered":"All About Video KYC &#8211; Everything You Need To Know About Video-Based KYC Verification"},"content":{"rendered":"<h2><span style=\"color: #008000;\"><strong>What is Video KYC?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Video-based KYC or <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/signdesk.com\/digital-kyc\">Video KYC<\/a><\/strong><span style=\"font-weight: 400;\"> is a recently introduced KYC (Know Your Customer) procedure, involving the video-based verification of a customer\u2019s KYC details.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">A customer\u2019s KYC details are collected &amp; verified typically before that customer can begin an account-based relationship with a regulated financial institution such as a bank, financial service provider, insurer or a securities intermediary.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">These KYC verification procedures are a critical part of <strong>Customer Due Diligence (CDD)<\/strong>, which are measures put in place to deter money laundering, fraud &amp; the usage of funds to finance criminal activities.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC stands out from other KYC verification protocols such as <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/aadhaar-based-ekyc\">eKYC<\/a><\/strong> or digital KYC due to its incorporation of video-enabled features, audio-visual interactions, facial matching capabilities &amp; the all-round usage of AI technology to streamline &amp; expedite the <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/kyc-verification\">KYC verification<\/a> <\/strong>process.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Let\u2019s look at a brief overview of Video KYC to see what this means.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5033 aligncenter\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/All-About-Video-KYC-Everything-You-Need-To-Know-About-Video-Based-KYC-1-1-1-1-1.jpg\" alt=\"All-About-Video-KYC\" width=\"1000\" height=\"454\" \/><\/p>\n<h2><span style=\"color: #008000;\"><strong>A Brief Overview Of <a style=\"color: #008000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/video-kyc\">Video KYC<\/a><\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC was first officially introduced in India by the Reserve Bank of India (RBI) on January 9, 2020 in a notification that outlined the procedures that constitute Video KYC for banks.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC is an umbrella term used to classify the various types of video-based KYC verification procedures that have been instituted since RBI\u2019s notification VCIP, a Video-based KYC verification process.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Therefore we must note here that Video KYC is a general moniker and could refer to any of the video-based KYC procedures that are currently in use by FIs.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">RBI\u2019s video-based KYC procedure is termed <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/10-things-you-need-to-know-about-rbis-vcip-video-kyc\">Video-based Customer Identification Process (VCIP)<\/a><\/strong><span style=\"font-weight: 400;\">. IRDAI &amp; SEBI, which quickly followed RBI in notifying their own Video KYC procedures, have announced a <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/irdai-officially-announces-vbip\">Video-based Identification Process (VBIP)<\/a><\/strong><span style=\"font-weight: 400;\"> &amp; <\/span><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\"><span style=\"font-weight: 400;\"><strong>Video In-Person Verification Process (VIPV)<\/strong><\/span><\/a><span style=\"font-weight: 400;\">, respectively.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Although these procedures are not exactly the same, they do have a few shared &amp; defining features.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Digital &amp; paper-free KYC verification<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC is completely digital &amp; involves zero paper. All three Video KYC procedures described above take place over digital channels, primarily use scanned documents or document images for verification, and can be completed over the internet\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Audio-visual interaction with a trained official<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">An important step in <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/video-kyc\">Video KYC<\/a> is a randomized question-driven interaction between an official from the FI (financial institution) conducting Video KYC &amp; the customer, which consists of random questions posed to the customer by the trained official. This interaction functions both as a liveliness check &amp; an identifying procedure, and is used to verify the customer\u2019s identity by authenticating document images &amp; matching the customer\u2019s face with photos on IDs.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Facial matching &amp; geo-tagging<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC institutes facial matching as a key identifying procedure and geo-tagging to determine the customer\u2019s location during <a href=\"https:\/\/melento.ai\/en-in\/blog\/all-about-kyc-verification\">KYC verification<\/a>.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Real-time &amp; automated document verification\u00a0<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">As opposed to manual document verification, Video KYC relies on the usage of technology to extract data from images of Officially Valid Documents (OVDs) and then verify these details in real-time. This allows for quicker verification &amp; fewer errors, and is an important pillar of Video KYC.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">While these are all neat features to have for KYC verification, we still haven\u2019t explained what prompted the need for video-based <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/kyc-verification\">KYC verification<\/a>.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; text-align: justify; color: #333300; font-size: 16px; font-family: 'open sans';\">We know that Video KYC plays a huge part in customer due diligence, and this has a lot to do with the features of Video KYC. <\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Role Does Video KYC Play In Due Diligence?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The concept of video-based KYC verification is tenuously linked with the idea of Strong Customer Authentication (SCA).\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.eba.europa.eu\/sites\/default\/documents\/files\/documents\/10180\/2622242\/4bf4e536-69a5-44a5-a685-de42e292ef78\/EBA%20Opinion%20on%20SCA%20elements%20under%20PSD2%20.pdf\">SCA<\/a><\/strong><span style=\"font-weight: 400;\"> is a set of regulatory requirements that has its roots in the EU Revised Directive on Payment Services (PSD2) for the general European Economic Area.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">SCA is defined as customer authentication based on the use of two or more of the following elements:\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\"><u>Something only the customer knows (Knowledge criterion)<\/u><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This could be a password, pin, OTP, challenge questions, etc.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\"><u>Something only the customer possesses (Possession criterion)<\/u><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This could be a generated OTP, QR code, OVDs, electronic evidence, etc.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\"><u>Something only the user is (Inherence criterion)\u00a0<\/u><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This could be biometrics, facial matching, voice recognition, vein recognition, keystroke dynamics, etc.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This means that, according to SCA, a customer is only authenticated when at least two of the three requirements above have been validated.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Therefore, if the customer evidences any two of the three elements of SCA as described above, this would constitute an authentication.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Customer Due Diligence plays a critical role in KYC. Primarily because CDD procedures root out fraud &amp; money laundering, and deter the diversion of capital for illicit purposes, which have been huge problems for the financial sector.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC was instituted as a strong CDD procedure, and therefore it makes sense that Video KYC resembles SCA.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">By incorporating some of the requirements of SCA, Video KYC has in turn become a robust and comprehensive process for conducting due diligence.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">How?\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans';\">Video KYC involves facial matching, which corresponds to <\/span><i><span style=\"font-weight: 400;\">\u201cSomething only the customer is\u201d<\/span><\/i><\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans';\">Video KYC involves OVD verification which corresponds to <\/span><i><span style=\"font-weight: 400;\">\u201cSomething only the customer possesses\u201d<\/span><\/i><\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\">In certain cases, Video KYC involves OTP-based identity authentication, which corresponds to <i>\u201cSomething only the customer knows\u201d<\/i><\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5034 aligncenter\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/How-Video-KYC-Compares-With-SCA-01-1-1-1-1.jpg\" alt=\"Video-KYC\" width=\"1000\" height=\"364\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC, therefore, is a relatively strong CDD procedure that has evidently been recommended to make KYC verification comprehensive &amp; robust.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This elicits the question &#8211; \u201cIf we\u2019re only getting strong CDD now, what KYC verification procedures were in place before Video KYC?\u201d<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Preceded Video KYC?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">The notion of KYC goes back all the way to ancient China, but the concept was first codified in the USA as <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.fdic.gov\/regulations\/laws\/rules\/1000-100.html\">The Federal Deposit Insurance Act<\/a><\/strong><span style=\"font-weight: 400;\">, which required banks to identify their customers during the 1940s.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Following a global reckoning regarding the dangers of money laundering in the late 1980\u2019s, the <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"http:\/\/www.fatf-gafi.org\/home\/\">Financial Action Task Force<\/a><\/strong><span style=\"font-weight: 400;\"> (FATF) was established in July 1989 at the G-7 summit in Paris. The FATF is a global money laundering &amp; financial terrorism watchdog, with the purpose of setting international standards &amp; regulations to deter financial crime.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Countries desirous of joining the FATF must pass appropriate laws to prevent financial crime following the <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"http:\/\/www.fatf-gafi.org\/publications\/fatfrecommendations\/documents\/internationalstandardsoncombatingmoneylaunderingandthefinancingofterrorismproliferation-thefatfrecommendations.html\">recommendations of the FATF<\/a><\/strong><span style=\"font-weight: 400;\"><strong>,<\/strong> and will be evaluated by the FATF periodically to check the efficacy of money laundering laws &amp; suggest improvements.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">India joined the FATF after passing its first KYC rules in 2002 along with the Prevention Of Money Laundering Act (PMLA), and directed all banks to ensure compliance by 2005.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The RBI additionally stipulated that KYC must be performed when an account is being opened, when money is being internationally transferred to someone who isn\u2019t an account holder with the bank, or in case of suspicions about the identification data obtained, among other scenarios.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The very first KYC verification procedures were all paper-based, consisted of voluminous compliance requirements &amp; were exceedingly expensive for businesses.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Then, following the introduction of the Aadhaar scheme and the inception of the Aadhaar database by UIDAI, <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/ekyc-explained-all-you-need-to-know-about-ekyc\">eKYC<\/a><\/strong><span style=\"font-weight: 400;\"> (Electronic KYC) was introduced as a faster &amp; cost-effective means of KYC verification.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">eKYC initially involved the usage of an Aadhaar-registered customer\u2019s mobile number or biometrics, to retrieve identifying information from the UIDAI database for the FI to authenticate.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">However, due to large-scale concerns about privacy, the Supreme Court ruled in 2018 that private entities cannot use online eKYC for KYC verification. Unregulated players could still use offline methods involving XML files or QR codes for KYC, but had to shell out a license fee and a per transaction fee to conduct eKYC.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Another glaring problem with eKYC authentication is that accounts opened following eKYC will have certain restrictions &#8211;\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">The maximum balance of an eKYC account cannot exceed <\/span><span style=\"font-weight: 400;\">\u20b9 1 lakh<\/span><\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">In a financial year, funds exceeding \u20b9 2 lakh cannot be added to the eKYC account<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">A minimum KYC account can only be used for a year, after which full KYC must be completed for continued use\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">It was in this situation that RBI announced its VCIP, and thus introduced Video KYC as an alternative &amp; digital means for KYC verification.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-5035 alignnone\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/KYC-timeline-01-1-1-1-1-1.jpg\" alt=\"KYC-timeline\" width=\"1000\" height=\"407\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Now that it\u2019s been a year since the introduction of Video KYC, who\u2019s allowed to use it?<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>Who Can Perform Video KYC?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">As explained before, Video KYC is an umbrella term for video-based verification procedures instituted by a variety of regulatory bodies.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">We\u2019ll list each of the regulatory bodies that have allowed Video KYC and who\u2019s allowed to use Video KYC in each case.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b>RBI &amp; VCIP<\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">While both banks &amp; NBFCs are free to use VCIP to onboard customers, RBI\u2019s circular on VCIP explicitly notes that only banks can use online Aadhaar authentication for customer identification. Unregulated FIs will have to use offline methods of eKYC.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b>IRDAI &amp; VBIP<\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">IRDAI states, in its circular on VBIP, that all general &amp; life insurers can use VBIP to onboard customers.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b>SEBI &amp; VIPV<\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">SEBI has stated that VIPV is for use by all SEBI-registered intermediaries who want to start account-based relationships with individual investors.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Now that we\u2019ve listed who can use Video KYC procedures, let\u2019s finally get to the various types of Video KYC.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"#name\"><br \/>\n<button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><b>Book a Free Demo<\/b><br \/>\n<\/button><\/a><\/p>\n<h2><span style=\"color: #008000;\"><strong>What are the different types of Video KYC?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">As mentioned before, different types of FIs have their own version of Video KYC depending upon the regulatory body.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Currently, there are 3 major video-based KYC procedures in use.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>VCIP<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/10-things-you-need-to-know-about-rbis-vcip-video-kyc\"><span style=\"font-weight: 400;\"><strong>Video-based Customer Identification Procedure (VCIP)<\/strong><\/span><\/a><span style=\"font-weight: 400;\"> was notified by RBI for use by banks &amp; NBFCs.\u00a0<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>VBIP<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/irdai-officially-announces-vbip\">Video-based Identification Process (VBIP)<\/a><\/strong><span style=\"font-weight: 400;\"> was notified by IRDAI for use by insurers.<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>VIPV<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\">Video In-Person Verification (VIPV)<\/a><\/strong><span style=\"font-weight: 400;\"> was instituted by SEBI for use by registered intermediaries.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Apart from these regulators, a few other organizations have also taken a welcome step towards Video-based KYC verification.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">The PFRDA (Pension Fund Regulatory &amp; Development Authority) has instituted a <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/pfrda-allows-video-kyc-vcip-for-nps-pensions\">video-based verification<\/a><\/strong><span style=\"font-weight: 400;\"> procedure similar to VCIP to obtain NPS services.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Melento (Formerly SignDesk) offers <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vcip\">KYC verification services<\/a><\/strong><span style=\"font-weight: 400;\"> that support all three types of Video KYC.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Let\u2019s now look at the three main video-based KYC procedures currently in use.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>RBI\u2019s VCIP For Banks &amp; NBFCs<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">RBI officially announced VCIP as an amendment to the <\/span><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.rbi.org.in\/Scripts\/BS_ViewMasDirections.aspx?id=11566\"><span style=\"font-weight: 400;\"><strong>Master Direction on KYC<\/strong><\/span><\/a><span style=\"font-weight: 400;\">.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vcip\"><span style=\"font-weight: 400;\">VCIP<\/span><\/a><span style=\"font-weight: 400;\"> is a customer due diligence procedure for individuals to be conducted before beginning an account-based relationship with a bank or NBFC.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vcip\"><span style=\"font-weight: 400;\">VCIP<\/span><\/a><span style=\"font-weight: 400;\"> is a seamless video-based procedure taking place over a digital channel (via mobile or web). It involves two people &#8211; the customer and a trained official from the FI. The official is trained explicitly for the purposes of conducting VCIP &amp; will assist the customer through the process, which will be recorded on video.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vcip\"><span style=\"font-weight: 400;\">VCIP<\/span><\/a><span style=\"font-weight: 400;\"> is to be triggered from the domain of the FI and the application used for VCIP is to undergo quality &amp; security audits to ensure that the process is seamless, encrypted &amp; secure. FIs are also encouraged to use AI &amp; ML techniques to improve their Video KYC procedures.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Before initiating VCIP, the customer\u2019s identification details must be collected. This is done via online or offline Aadhaar authentication for banks &amp; private entities respectively. The customer also uploads at least one OVD for document verification purposes.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The Video KYC Process typically concludes within 10 minutes of initiation. RBI also mandates that concurrent audits take place simultaneously with VCIP to ensure that the process is without errors, and that all accounts opened via VCIP are to be made operational only after a concurrent audit. The customer\u2019s Aadhaar is also to be redacted or blacked out.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Upon completion of VCIP, the video of the process is viewed again by the official to make sure that it wasn\u2019t pre-recorded. The video is then stored for auditing purposes along with the date, time-stamps &amp; GPS coordinates.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Now that we know what generally goes on in VCIP, let\u2019s take a hard look at the steps involved. <\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Are The Steps In VCIP?<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Here\u2019s a run-down of the steps involved in VCIP.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official initiates the process after obtaining the customer\u2019s consent<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The customer\u2019s Aadhaar is authenticated online or offline via XML or QR code<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The customer uploads OVDs such as PAN<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official initiates a live interaction with the customer<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official captures a video and a photo of the customer\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official captures an image of the customer\u2019s PAN<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official ensures that the face captured in the image is the same as the one in the customer\u2019s PAN or Aadhaar. The official must also verify the rest of the details in the customer\u2019s PAN or Aadhaar.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Geo-tagging technology determines the customer\u2019s real-time location<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">A live question-based interaction takes place between the official and the customer to make sure that the customer\u2019s video feed has not been pre-recorded<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official completes VCIP<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official must now store the recorded video for future reference<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">A concurrent audit is performed alongside KYC verification &amp; accounts opened will only be activated following this concurrent audit\u00a0<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5036\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/VCIP-Process-Flow-info-01-3-1-2-1.jpg\" alt=\"VCIP-Process-Flow\" width=\"1000\" height=\"454\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Next, let\u2019s look at the video-based KYC procedure for insurers.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/melento.ai\/en-in\/vcip\" target=\"_blank\" rel=\"noopener\"><br \/>\n<button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><b>Book a Free Demo<\/b><br \/>\n<\/button><\/a><\/p>\n<h2><span style=\"color: #008000;\"><strong>IRDAI\u2019s VBIP For Insurers<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">VBIP was announced officially by IRDAI in a <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.irdai.gov.in\/ADMINCMS\/cms\/whatsNew_Layout.aspx?page=PageNo4246&amp;flag=1\">press release<\/a><\/strong><span style=\"font-weight: 400;\"> on 21st September 2020.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vbip\">VBIP<\/a><\/strong><span style=\"font-weight: 400;\"> is an alternative, face-to-face &amp; paper-less KYC process to be carried out by a trained official from the insurer. This process mainly consists of a seamless, secure, real-time &amp; consent-based audio-visual interaction between the customer and the trained official, in order to obtain identifying information. This interaction is recorded &amp; stored after the process is completed.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Like VCIP, the procedure takes place over a secure application after appropriate security &amp; software audits. <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vbip\">VBIP<\/a><\/strong><span style=\"font-weight: 400;\"> places increased importance on the interactive aspect of Video KYC, by mandating that the official conducting VBIP ensure that the customer\u2019s face is recognizable &amp; that the video feed is of satisfactory quality.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The application is to be triggered from the domain of the insurer and must be hosted within India. It must also clear security testing through a CERT-In empanelled vendor.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Unlike VCIP however, customer identification can not only be done through online or offline Aadhaar authentication, but also by uploading a digitally signed OVD through DigiLocker or by uploading a scanned OVD through the eSign mechanism.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The XML file or QR code used for offline Aadhaar authentication must also not be more than 3 days old at the time of VBIP.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Once <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vbip\">VBIP<\/a><\/strong><span style=\"font-weight: 400;\"> is concluded, the recorded video is stored along with details of the official, the date, time-stamps &amp; GPS coordinates of the customer.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Here are the steps involved in VBIP.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Are The Steps In VBIP?<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">This is the procedure for IRDAI\u2019s VBIP.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The customer\u2019s consent is obtained before initiating VBIP<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official collects identifying information from the customer as follows:\u00a0<\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 120px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">1. Through online Aadhaar authentication, subject to the customer\u2019s consent<\/span><\/p>\n<p style=\"padding-left: 120px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">2. Through offline Aadhaar, i.e XML file or QR code, subject to the customer\u2019s consent<\/span><\/p>\n<p style=\"padding-left: 120px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">3. Through a digitally signed copy of an Officially Valid Document (OVD) issued to DigiLocker<\/span><\/p>\n<p style=\"padding-left: 120px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">4. Through a photo or scanned copy of an OVD using eSign mechanism<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official will initiate an audio-visual interaction with the customer<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official ensures that the customer\u2019s picture in the Aadhaar or OVD match these customer\u2019s face in the video interaction\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official poses a sequence of randomized questions to ensure that the interaction is taking place in real-time<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The customer\u2019s location is determined via geo-tagging technology to be within India\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Once the interaction is concluded, the recorded video is stored safely with date, timestamps, GPS coordinates and other necessary information<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The activity log of the interaction is maintained along with the details of the authorized official<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Any account opened via VBIP will only be activated following verification and audits<\/span><\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5037\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/VBIP-Process-Flow-info-01-01-1-1.jpg\" alt=\"VBIP-Process-Flow\" width=\"1000\" height=\"454\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">While the workflow of VBIP involves interaction with a trained official, Melento (Formerly SignDesk) additionally offers an <\/span><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vbip\"><span style=\"font-weight: 400;\"><strong>unassisted module of<\/strong> <strong>VBIP<\/strong><\/span><\/a><span style=\"font-weight: 400;\">, in which customers are verified and onboarded without assistance from an official from the insurer.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Finally, let\u2019s look at SEBI\u2019s video-based KYC verification procedure.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/melento.ai\/en-in\/vbip\" target=\"_blank\" rel=\"noopener\"><br \/>\n<button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><b>Book a Free Demo<\/b><br \/>\n<\/button><\/a><\/p>\n<h2><span style=\"font-weight: 400;\"><span style=\"color: #008000;\"><strong>SEBI\u2019s VIPV For Securities Intermediaries<\/strong><\/span>\u00a0<\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">SEBI released a <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.sebi.gov.in\/legal\/circulars\/apr-2020\/clarification-on-know-your-client-kyc-process-and-use-of-technology-for-kyc_46565.html\">circular<\/a><\/strong><span style=\"font-weight: 400;\"> detailing changes to the required KYC &amp; IPV (In-Person Verification) procedures on 24th April, 2020.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">The circular illustrated a new <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\">online KYC process<\/a><\/strong><span style=\"font-weight: 400;\"> for registered intermediaries (RIs) to onboard investors. You can read about SEBI\u2019s online KYC process <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\">here<\/a><\/strong><span style=\"font-weight: 400;\">.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Traditionally, SEBI has required RIs to perform an IPV process along with the submission of KYC documents to complete investor onboarding. According to the circular however, RIs are exempt from performing IPV in the following cases &#8211;\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">When the investor\u2019s KYC is completed using Aadhaar authentication<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">When the KYC form has been submitted online &amp; documents are submitted via DigiLocker or other means that are verifiable online<\/span><\/li>\n<\/ol>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Therefore, SEBI has, in effect, largely made the IPV process redundant. However, even in cases where IPV is required, the new regulations for <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/signdesk.com\/digital-kyc\">VIPV<\/a><\/strong><span style=\"font-weight: 400;\"> make the process seamless, digital &amp; easy to perform.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">RIs must perform VIPV through a sufficiently audited application which preserves the activity log of the procedure for future reference, along with the date and timestamps. VIPV will consist of a face-to-face interaction with a trained official who must make sure that the customer\u2019s face is easily recognisable through the video feed.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The entire process must take place in a live environment and RIs must ensure that once the process is completed, the video &amp; logs are stored in a\u00a0 safe, secure &amp; tamper-proof manner.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Now let\u2019s take a look at the steps involved in VIPV.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Are The Steps In VIPV?<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Here is the procedure envisaged in SEBI\u2019s VIPV.\u00a0<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The customer obtains &amp; fills up the KYC form.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">An authorized official of the RI begins VIPV of the investor after obtaining consent.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The process must take place in a live environment, and the investor must be clear and recognizable.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The process must include random questions and responses to ensure the liveliness of the video.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The investor must display their OVD, KYC form, and signature. However, this can also be confirmed via OTP.<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The official must ensure that the photo of the customer downloaded through Aadhaar verification matches with the investor in the video.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400; text-align: justify;\" aria-level=\"1\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">\u00a0Once the interaction is concluded, it must be saved in a secure manner along with the date and time stamps.\u00a0<\/span><\/li>\n<\/ol>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-5038\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/03\/VIPV-Process-Flow-info-01-1-1-1-1.jpg\" alt=\"VIPV-Process-Flow\" width=\"1000\" height=\"454\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">So now that we\u2019ve gone through the major types of Video KYC, let\u2019s look at why they\u2019ve been such a big deal.<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"#name\"><br \/>\n<button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><b>Book a Free Demo<\/b><br \/>\n<\/button><\/a><\/p>\n<h2><span style=\"color: #008000;\"><strong>What Are The <a style=\"color: #008000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/why-you-should-be-onboarding-customers-with-video-kyc\">Benefits Of Video KYC<\/a>?\u00a0<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Ever since its introduction, <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/7-interesting-facts-you-probably-didnt-know-about-video-kyc\">Video KYC<\/a> has been massively popular &amp; precipitated huge benefits for businesses.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The banking sector has been the most enthusiastic adopter of Video KYC, with millions of accounts opened using VCIP over the last year. Now with large numbers of insurers &amp; RIs also getting onboard, Video KYC is starting to become a staple in KYC verification.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Here\u2019s why Video KYC has produced amazing results and real benefits for FIs.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Massive reductions in onboarding &amp; KYC expenses<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/us\/Documents\/financial-services\/us-cons-automation-in-on-boarding-and-ongoing-servicing-of-commercial-banking-clients.pdf\"><span style=\"font-weight: 400;\">Several reports<\/span><\/a><span style=\"font-weight: 400;\"> estimate that automating KYC procedures can entail a minimum of 50% reduction in expenses.\u00a0<\/span><\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC in particular, has been shown to reduce onboarding costs by 90%, due to the digital nature of the process, the absence of paperwork &amp; the utilization of automated verification methods.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Shortened turnaround times<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">The total duration of a KYC verification process that isn\u2019t digitized can stretch from 10 to 20 days.<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC demonstrably reduces the turnaround time for KYC verification by automating the validation process, instantly verifying KYC details &amp; digitizing the documentation involved.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video-based KYC verification procedures have been shown to reduce TAT from 10 days to within 10 minutes.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Increased productivity &amp; fewer documentation errors<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC boosts worker productivity by removing the inefficiencies associated with paper-based documents &amp; manual workflows.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.business.com\/articles\/7-statistics-that-will-make-you-rethink-your-document-management-strategy\/\"><span style=\"font-weight: 400;\">Reports<\/span><\/a><span style=\"font-weight: 400;\"> estimate that digitizing paperwork can boost productivity by 20%, and the usage of AI-powered verification techniques further boosts efficiency by reducing potential verification errors.\u00a0<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Seamless onboarding journey with fewer drop-offs<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Previous paper-based KYC procedures were often too fragmented &amp; slow, resulting in about 40% of customers abandoning the KYC verification process.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC ensures a smooth &amp; seamless onboarding process for customers by making the process entirely digital &amp; automated, which is directly in line with customer demands, since more 55% of customers prefer a digital method of identity verification.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.cardrates.com\/news\/market-force-banking-study-predicts-future-changes-for-bank-branches\/\"><span style=\"font-weight: 400;\">Surveys<\/span><\/a><span style=\"font-weight: 400;\"> have further indicated that automating KYC procedures reduces KYC drop-offs by 20%.<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Usage of cutting edge technology\u00a0<\/u><\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">All the circulars released regarding Video KYC encourage the use of AI &amp; other emerging technology to enhance the Video KYC process.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Melento (Formerly SignDesk) has taken this as an opportunity to strengthen our <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/en-in\/vcip\">KYC verification solution<\/a><\/strong><span style=\"font-weight: 400;\"> with cutting edge AI-powered document verification, OCR-based image data extraction, facial matching capabilities &amp; ML-enabled fraudulent profile filters.\u00a0<\/span><\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www2.deloitte.com\/content\/dam\/Deloitte\/us\/Documents\/financial-services\/us-cons-automation-in-on-boarding-and-ongoing-servicing-of-commercial-banking-clients.pdf\"><span style=\"font-weight: 400;\">Reports<\/span><\/a><span style=\"font-weight: 400;\"> have shown that automating KYC procedures using AI technology massively reduces expenses &amp; boosts ROI.\u00a0<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><b><u>Safety &amp; security are prioritised<\/u>\u00a0<\/b><\/span><\/li>\n<\/ul>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Fraud, cyber-crimes &amp; money laundering have been huge problems for FIs and were the primary reason for instituting KYC norms in the first place.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.rbi.org.in\/scripts\/AnnualReportPublications.aspx?Id=1290\"><span style=\"font-weight: 400;\">Banks<\/span><\/a><span style=\"font-weight: 400;\"> &amp; <\/span><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/www.financialexpress.com\/industry\/indias-insurance-industry-hit-by-frauds-insurers-pay-higher-premium-to-compensate\/1926553\/\"><span style=\"font-weight: 400;\">insurers<\/span><\/a><span style=\"font-weight: 400;\"> pay millions of dollars in fraud-related fines every year, and cases of financial fraud have only been on the rise in the last year due to the trend of digitization.\u00a0<\/span><\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Additionally, the conditions brought about by COVID-19 have rendered people unable to have physical interactions, thus increasing the need for a presence-less form of onboarding.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC solves all these problems,\u00a0including <a href=\"https:\/\/melento.ai\/en-in\/blog\/digital-student-onboarding\">digital student onboarding<\/a>, by incorporating strong security protocols, ML-powered filters, data security measures &amp; a completely digital workflow for remote &amp; presence-less KYC verification.\u00a0<\/span><\/p>\n<p style=\"padding-left: 30px; text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Therefore, Video KYC can both greatly mitigate fraud &amp; help vulnerable people receive the financial and insurance services they need.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">These are just a few of the advantages of Video KYC. However, they do not touch on perhaps the most important aspect of Video KYC, which makes it a real gamechanger.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>How Is Video KYC A Gamechanger?\u00a0<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">As we\u2019ve seen before, the only option for digital KYC before the introduction of Video KYC involved online Aadhaar authentication; before which only paper-based verification processes were available. These older KYC processes cost businesses between <\/span><span style=\"font-weight: 400;\">\u20b975 and \u20b9200.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Also recall that private entities can only use online eKYC provided that they obtain permission from UIDAI to do so, and after paying an eKYC licence fee of around <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\"> 25 lakh. Private entities must also pay a <\/span><span style=\"font-weight: 400;\">\u20b9<\/span><span style=\"font-weight: 400;\"> 20 transaction fee for every eKYC verification performed.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Therefore it isn\u2019t a stretch to say that compliance with KYC processes were (and sometimes continue to be) a huge burden for FIs.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">However, with the introduction of Video KYC, we can observe a change in the tide.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC is completely digital &amp; automated, allowing for major compliance cost reductions, and uses technology to expedite &amp; simplify the KYC process.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Additionally, Video KYC can be used by both regulated &amp; private FIs (with certain exceptions), and therefore reflects a change in the attitude of regulators.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Completing Video KYC also counts as a full KYC, as opposed to the half KYC accounts that are opened if customers only complete eKYC.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">By allowing technological innovation in the KYC process, regulators have eased compliance burdens on FIs and harnessed the innovative capacity of the private sector to further automate &amp; expedite KYC compliance.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Video KYC therefore, is more a sign of these times, in which regulators and innovators are increasingly working hand-in-hand to foster innovation.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>Award-Winning &amp; Automated Video KYC<\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Melento (Formerly SignDesk) is an award-winning provider of <\/span><strong><span style=\"color: #333333;\"><a style=\"color: #333333;\" href=\"https:\/\/signdesk.com\/documentation-workflow-products\">AI-powered verification and documentation solutions<\/a><\/span>\u00a0<\/strong>to businesses<strong>.<\/strong><\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">To learn more about KYC, you can check out <span style=\"color: #333333;\"><a href=\"https:\/\/melento.ai\/en-in\/ebooks\/\"><strong>Melento (Formerly SignDesk)\u2019s KYC e-book<\/strong><\/a><\/span>, which includes a detailed, <span style=\"color: #333333;\"><a style=\"color: #333333;\" href=\"https:\/\/melento.ai\/en-in\/ebooks\/kyc\/business-guide-to-video-kyc-verification\/\">easy-to-follow guide on all things Video KYC<\/a><\/span>.<\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">We use real-time AI-powered document verification techniques, OCR-enabled image data extraction, facial matching &amp; ML-based fraud filters to automate and expedite the KYC verification process.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Our <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/signdesk.com\/digital-kyc\">verification solutions<\/a><\/strong><span style=\"font-weight: 400;\"> have helped our 250+ clients reduce onboarding expenses, cut down on KYC drop-offs, reduce TAT by 99%, and safeguard against fraud using cutting-edge compliance technology.<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #333300; font-size: 16px; font-family: 'open sans';\"><span style=\"font-weight: 400;\">Our efforts to automate KYC have been recognized in the form of numerous <\/span><strong><a style=\"color: #333300; font-size: 16px; font-family: 'open sans';\" href=\"https:\/\/melento.ai\/awards\">awards<\/a><\/strong><span style=\"font-weight: 400;\">, the latest being the Best AI\/ML Product at InnTech 2020, and the Global Banking &amp; Finance Review\u2019s Best Digital Onboarding Product of 2020.\u00a0<\/span><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400; color: #333300; font-size: 16px; font-family: 'open sans';\">Are you ready to join 50+ major banks and start onboarding with Video KYC? Book a demo with us now and let\u2019s get started!<\/span><\/p>\n<p style=\"text-align: center;\"><a href=\"#name\"><br \/>\n<button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\"><b>Book a Free Demo<\/b><br \/>\n<\/button><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Video KYC? Video-based KYC or Video KYC is a recently introduced KYC (Know Your Customer) procedure, involving the video-based verification of a customer\u2019s KYC details.\u00a0 A customer\u2019s KYC details are collected &amp; verified typically before that customer can begin an account-based relationship with a regulated financial institution such as a bank, financial service [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5995,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"page_templates\/blog-new-3.php","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[22],"tags":[146,200,209,214,217,241,480,587,818,1342,1386,1403,1406,1618,1889,1947,1955,1956,2033,2039,2320,2324,2369,2379,2381,2384,2403,2492],"class_list":["post-5022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-video-kyc","tag-ai-powered-verification","tag-automate-vendor-onboarding","tag-automated-kyc","tag-automated-video-kyc","tag-automating-document-execution","tag-bank-video-kyc","tag-credit-card-onboarding","tag-digital-onboarding","tag-education-video-kyc","tag-id-varification","tag-insurance-video-kyc","tag-irdai-kyc","tag-irdai-vbip","tag-mutual-fund-kyc","tag-pfrda-allows-video-kyc","tag-rbi-kyc","tag-rbi-vcip","tag-rbi-video-kyc","tag-sebi-kyc","tag-sebi-vipv","tag-vbip","tag-vcip","tag-video-based-kyc","tag-video-kyc-nbfc","tag-video-kyc-online","tag-video-kyc-solution-provider","tag-vipv","tag-what-is-video-kyc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Everything You Need To Know About Video KYC Verification | KYC<\/title>\n<meta name=\"description\" content=\"Video KYC is a video-based digital KYC verification process that\u2019s now used by banks &amp; insurers across India.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/melento.ai\/en-in\/blog\/everything-you-need-to-know-about-video-kyc\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Everything You Need To Know About Video KYC Verification | KYC\" \/>\n<meta property=\"og:description\" content=\"Video KYC is a video-based digital KYC verification process that\u2019s now used by banks &amp; insurers across India.\" \/>\n<meta property=\"og:url\" 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