{"id":5097,"date":"2021-04-06T10:55:26","date_gmt":"2021-04-06T10:55:26","guid":{"rendered":"https:\/\/signdesk.com\/in\/?p=5097"},"modified":"2025-09-17T07:13:09","modified_gmt":"2025-09-17T12:43:09","slug":"vipv-enabled-video-kyc-for-mutual-funds","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/vipv-enabled-video-kyc-for-mutual-funds","title":{"rendered":"Why Registered Intermediaries Need To Implement Video KYC For Mutual Funds"},"content":{"rendered":"<h2><span style=\"color: #008000;\"><strong>KYC Verification For Mutual Fund Investment<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Know Your Client (KYC) is a crucial aspect of customer due diligence undertaken on the part of institutions in order to prevent instances of financial crime including money laundering, funding of illicit activities &amp; general financial fraud.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Mutual fund investment is an attractive area for newer investors to dip their toes in the financial market due to the low threshold for minimum capital required &amp; the relatively low risk involved. Therefore, mutual funds are a popular option for would-be investors starting out &amp; for people looking for stable returns on investment.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">This popularity has inevitably fuelled the need for checks and balances in the process, which is where KYC comes in.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">KYC for mutual funds is informed by the <strong><a style=\"color: #333300;\" href=\"https:\/\/m.rbi.org.in\/scripts\/BS_ViewMasCirculardetails.aspx?Id=4354&amp;Mode=0\">Prevention of Money Laundering Act<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans'; color: #333300;\"><strong> (PMLA)<\/strong>, which came into effect on July 1, 2005.\u00a0<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-5101 size-full\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/04\/Why-Registered-Intermediaries-Need-To-Implement-Video-KYC-For-Mutual-Funds-01-1.jpg\" alt=\"Video In Person Verification ( VIPV ) For Mutual Fund Investment \" width=\"1000\" height=\"454\" \/><\/p>\n<h2><span style=\"color: #008000;\"><strong>PMLA Rules For Intermediaries<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The Securities and Exchange Board of India (SEBI), mandated KYC for all intermediaries handling mutual funds shortly after the passing of PMLA.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">SEBI began requiring <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\"><strong>KYC compliance<\/strong><\/a> for mutual funds &amp; all other investors from January 1, 2011. Compliance with KYC has been mandated irrespective of the capital invested &amp; includes &#8211;<\/p>\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">All new or additional investments<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Switching transactions, i.e for investments in new assets or via new intermediaries<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">New registrations for SIP\/ STP\/ Flex STP\/ FlexIndex\/ DTP<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Any SIP\/STP\/trigger-related products launched after PMLA<\/li>\n<\/ul>\n<h2><span style=\"color: #008000;\"><strong>How To Perform KYC For Mutual Funds<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Mutual fund KYC consists of a basic <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/kyc-verification\">KYC verification<\/a><\/strong> followed by an In-Person Verification process.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The process can additionally be completed either online or offline. The offline KYC process consists of &#8211;<\/p>\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Filling KYC form &amp; attaching documents including proof of identity &amp; proof of address<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Submitting the application at a KRA in person<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Getting yourself verified by the KRA, AMC, distributor, mutual fund or transfer agent<\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The offline KYC process is completely paper-based &amp; can take 20-30 days to complete.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">If potential investors want to get themselves verified online, they can get their basic KYC done completely online via eKYC. This involves a preliminary KYC verification procedure consisting of OTP-based verification performed via the <strong><a style=\"color: #333300;\" href=\"https:\/\/uidai.gov.in\/\">UIDAI<\/a><\/strong> database.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">After this however, the process goes offline &amp; involves a physical In-Person Verification (IPV) process, in which the investor must be physically present in order to be verified by officials from the KRA, AMC, or any organization designated by the registered intermediary.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">In both cases, the IPV process is responsible for taking up the bulk of an agency\u2019s or intermediary\u2019s time, since it involves presence-based KYC verification &amp; manual document validation.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Additionally, there\u2019s an investment cap for investors who have only gone through<strong> <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/aadhaar-based-ekyc\">eKYC<\/a><\/strong> and not IPV. Such investors can only invest upto Rs. 50, 00 in one fund house per fiscal year. In order to increase &amp; diversify investments, clients will have to undergo IPV.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">This situation, however, was drastically changed on April 24, 2020.<\/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>SEBI Notification On VIPV<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">SEBI has recently released a <strong><a style=\"color: #333300;\" 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\">notification<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans'; color: #333300;\"> with vast ramifications for investors &amp; intermediaries, in which it outlines a revamped system for online investor KYC &amp; digitizes IPV.\u00a0<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">For an in-depth look at what the notification says &amp; its implications, go <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/sebi-notification-now-allows-paperless-investor-onboarding\">here<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans'; color: #333300;\"><strong>.<\/strong>\u00a0<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Meanwhile, here\u2019s an overview of <strong><a style=\"color: #333300;\" href=\"https:\/\/www.sebi.gov.in\/\">SEBI\u2019s<\/a><\/strong> vision for investor onboarding going forward &#8211;<\/p>\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">SEBI has put forward new rules for online investor KYC, according to which certain fund houses can onboard investors without IPV.\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">These intermediaries can accept online submission of proof of identity &amp; residence, and verify these documents online via procedures prescribed by SEBI in its notification. These procedures mainly involve eSign-based ID submission<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Intermediaries can develop &amp; implement applications for online investor KYC &amp; roll these out following audit procedures. This application must have features for liveness detection, image capture, ID scanning, geo-tagging &amp; Digilocker integration.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The fund houses &amp; intermediaries who can rely on online investor KYC without IPV are the same ones for whom SEBI has allowed <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/aadhaar-based-ekyc\">Aadhaar-based KYC verification<\/a><\/strong>. These organizations are &#8211;\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Bombay Stock Exchange Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">National Securities Depository Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Central Depository Services (India) Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">CDSL Ventures Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">NSDL Database Management Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">NSE Data and Analytics Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">CAMS Investor Services Private Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Computer Age Management Services Private Limited<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Link Intime India Pvt. Ltd.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">SEBI-registered intermediaries can opt for a new Video In-Person Verification (VIPV) procedure instead of the traditional IPV process to complete investor KYC. SEBI has outlined the steps involved in VIPV in its notification<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Since only a few intermediaries are allowed to bypass IPV, the new procedure for <strong>mutual fund KYC<\/strong> now involves a preliminary customer verification followed by a <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/7-interesting-facts-you-probably-didnt-know-about-video-kyc\">video-based kyc<\/a> verification procedure<\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>So what are the steps involved in VIPV<\/strong>?<\/p>\n<h2><span style=\"color: #008000;\"><strong>Procedure For VIPV<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">According to the SEBI notification, the prescribed steps for VIPV are &#8211;<\/p>\n<ol>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">VIPV of an investor is undertaken by an authorized official after obtaining\u00a0his\/her informed consent. The activity log along with the credentials of the official performing VIPV is stored for easy retrieval.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">VIPV will take place in a live environment, i.e everything will be recorded on video<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">VIPV must be clear and still, and the investor in the video must be easily\u00a0recognisable.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The VIPV process will include random question and response from the\u00a0investor including displaying the OVD, KYC form and signature, which can\u00a0also be confirmed via OTP.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The intermediary must ensure that the investor\u2019s picture downloaded via UIDAI\u00a0 matches with the investor in the VIPV.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">The VIPV must be digitally saved in a safe, secure and tamper-proof, easily\u00a0retrievable manner while bearing date and timestamps.<\/li>\n<\/ol>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">This procedure is quite similar to the other <a style=\"color: #333333;\" href=\"https:\/\/melento.ai\/en-in\/blog\/everything-you-need-to-know-about-video-kyc\">Video KYC<\/a> procedures mandated by <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/what-are-the-steps-in-rbis-new-vcip\">RBI<\/a><\/strong><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">&amp; <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/irdai-officially-announces-vbip\">IRDAI<\/a><\/strong><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">, in which an authorized official gets on a video call with the customer &amp; verifies the customer\u2019s OVDs in real-time.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/\">Melento (Formerly SignDesk)<\/a><\/strong> offers a customizable <strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/digital-kyc\">Video KYC solution<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans';\"> designed for intermediaries to onboard investors via VIPV. Our solution uses AI-powered ID verification, OCR-based image data extraction &amp; ML-enabled filters to mitigate fraud.\u00a0<\/span><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Here\u2019s how our <strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/digital-kyc\">Video KYC solution<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans';\"> works.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5102 size-full\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2021\/04\/Why-Registered-Intermediaries-Need-To-Implement-Video-KYC-For-Mutual-Funds-info-01-1-1-1.jpg\" alt=\"SEBI-VIPV process\" width=\"1000\" height=\"454\" \/><\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">As evidenced here, VIPV takes place on a completely digital channel and is an alternative to the traditional IPV process.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Now that we\u2019ve seen what VIPV involves, let\u2019s look at who\u2019s required to perform it.<\/p>\n<h2><span style=\"color: #008000;\"><strong>Who Can Perform VIPV<\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong>The following entities are authorized to perform VIPV for mutual funds<\/strong>.<\/p>\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">KYC registration agencies (KRAs)<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Asset management companies<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Mutual fund agents<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Mutual fund distributors<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Registrars of mutual fund houses<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Transfer agents like CAMS or Karvy<\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">These entities are also responsible for performing eKYC for mutual fund investment on behalf of registered intermediaries. <strong>VIPV<\/strong> can therefore be made seamless with the usual procedure for KYC verification at these points of contact.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><b>So why should RIs implement VIPV?<\/b><\/p>\n<h2><span style=\"color: #008000;\"><strong>Why VIPV Is The Future Of Investor <a style=\"color: #008000;\" href=\"https:\/\/melento.ai\/en-in\/blog\/why-you-should-be-onboarding-customers-with-video-kyc\">Onboarding<\/a><\/strong><\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">As mentioned before, IPV can take 20-30 days to complete &amp; involves strenuous manual verification of IDs.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Digitizing &amp; automating the process for mutual fund KYC entails huge benefits for RIs, including &#8211;<\/p>\n<ul>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>85-90% reduction in onboarding costs<\/b><\/span><span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"> &#8211; Paper-based mutual funds KYC simply has too many pain points &amp; inefficiencies, leading to huge expenses. These can be automated away &amp; precipitate real cost benefits.\u00a0<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>99% reduction in TAT<\/b><\/span><span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"> &#8211; Firms &amp; intermediaries take 20-30 days to securely onboard a mutual funds investor. VIPV reduces this TAT to less than 10 minutes while making investor verification even more secure.<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>Reduced paperwork<\/b><\/span><span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"> &#8211; \u00a0 VIPV involves zero paperwork since it\u2019s an online procedure. This, along with the streamlined VIPV workflow, makes documentation &amp; compliance easier.<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>Fewer errors &amp; improved productivity<\/b><\/span> <span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">&#8211; Manual verification results in an 80% loss of productivity &amp; is susceptible to manual errors. Automated VIPV removes manual redundancies &amp; improves the efficiency of mutual funds KYC.<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>Flexible and accessible<\/b><\/span><span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"> &#8211; VIPV can be easily integrated into the KYC verification process for mutual funds investors since the entities already have the requisite machinery in place.\u00a0<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>Assured compliance<\/b><\/span> &#8211; <span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Compliance is a major issue for RIs, VIPV streamline the mutual funds KYC process &amp; uses checks and balances to make sure that your activities comply with regulatory requirements and leaves a virtual audit trail in the form of stored video &amp; information.\u00a0<\/span><\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><span style=\"color: #333300;\"><span style=\"text-decoration: underline;\"><b>Smooth &amp; investor-centric onboarding<\/b><\/span><span style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"> &#8211; Mutual funds investors are usually first-time investors &amp; require a smooth &amp; friendly introduction to the world of securities. VIPV ensures this by allowing a completely digital process that investors can complete from the comfort of their homes.\u00a0<\/span><\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Now that we\u2019ve gone over the numerous advantages of implementing VIPV. Here are some reasons why automated mutual funds KYC is a must-have for RIs.<\/p>\n<ol>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\"><strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/digital-kyc\">Digital KYC<\/a><\/strong> verification is now an industry benchmark for FIs. Digitization as a trend is here to stay &amp; following the COVID-19 pandemic, investors are demanding online mutual funds KYC due to the ease &amp; security it entails.<\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Automated Video KYC for mutual funds provides massive ROI, especially if RIs digitize the entire KYC verification process. <strong><a style=\"color: #333300;\" 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\">Analyses of automated KYC<\/a><\/strong><span style=\"font-weight: 400; font-size: 16px; font-family: 'open sans';\"> show that AI-powered KYC automation ensures a minimum 50% reduction in operating expenses.<\/span><\/li>\n<li style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Compliance is a major issue for RIs since IPV is usually conducted manually &amp; the interpretation of rules is left to the discretion of individual officials. VIPV automates compliance procedures &amp; thus massively reduces the compliance burden on RIs.<\/li>\n<\/ol>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">So if you\u2019re an RI looking to implement VIPV, which service provider should you choose?<\/p>\n<h2><span style=\"text-align: justify; font-size: 24px; font-family: 'open sans'; color: #008000;\"><strong>Trusted &amp; Award-Winning KYC Verification\u00a0<\/strong>\u00a0<\/span><\/h2>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Melento (Formerly SignDesk) is an award-winning provider of <strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/documentation-workflow-products\">AI-powered verification and documentation solutions\u00a0<\/a><\/strong>to businesses.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">We use real-time AI-powered document verification techniques, OCR-enabled image data extraction, <a style=\"color: #333333;\" href=\"https:\/\/melento.ai\/en-in\/blog\/ocr-based-insurance-claims-verification\">OCR verification,<\/a> facial matching &amp; ML-based fraud filters to automate and expedite the KYC verification process.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Our <strong><a style=\"color: #333300;\" href=\"https:\/\/signdesk.com\/digital-kyc\">verification solutions\u00a0<\/a><\/strong>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.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Our efforts to <strong>automate KYC<\/strong> have been recognized in the form of numerous <strong><a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/awards\">awards<\/a><\/strong>, the latest being DigiMarcom\u2019s Digital Transformation Service Provider of the Year in 2021, the Best AI\/ML Product at InnTech 2020, and the Global Banking &amp; Finance Review\u2019s <strong>Best Digital Onboarding Product of 2020<\/strong>.<\/p>\n<p style=\"text-align: justify; font-size: 17px; font-family: 'open sans';\">Are you ready to join 200+ businesses including 50+ major FIs and start onboarding with <a style=\"color: #333300;\" href=\"https:\/\/melento.ai\/en-in\/blog\/video-kyc\">Video KYC<\/a>? Book a demo with us now and let\u2019s get started!<\/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>KYC Verification For Mutual Fund Investment Know Your Client (KYC) is a crucial aspect of customer due diligence undertaken on the part of institutions in order to prevent instances of financial crime including money laundering, funding of illicit activities &amp; general financial fraud. Mutual fund investment is an attractive area for newer investors to dip [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":5994,"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":[209,211,572,587,796,824,1398,1450,1479,1619,1621,2024,2033,2038,2039,2377,2378,2383,2384,2403,2411],"class_list":["post-5097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-video-kyc","tag-automated-kyc","tag-automated-onboarding","tag-digital-kyc","tag-digital-onboarding","tag-e-kyc","tag-ekyc","tag-investor-onboarding","tag-kyc-onboarding","tag-kyc-verification","tag-mutual-fund-video-kyc","tag-mutual-funds-kyc","tag-sebi-digital-onboarding","tag-sebi-kyc","tag-sebi-video-kyc","tag-sebi-vipv","tag-video-kyc-for-mutual-funds","tag-video-kyc-mutual-funds","tag-video-kyc-solution","tag-video-kyc-solution-provider","tag-vipv","tag-vkyc"],"acf":[],"yoast_head":"<!-- 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